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Commercial banks embrace agency banking for financial inclusion

Kampala, Uganda | THE INDEPENDENT | The banking sector has had a rapid expansion in Agency Banking hardly a year since Bank of Uganda issued Agency banking regulations. The sector according to Uganda Banker’s Association now has over two thousand agency banking agency compared to the existing three hundred bank …

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Insurer’s minimum capital requirement goes up

The move could see major mergers and acquisitions Kampala, Uganda | ISAAC KHISA | Uganda’s insurance regulator has increased the minimum capital requirements for insurers, a move that is intended to strengthen their capacity to handle risks. The Insurance Regulatory Authority of Uganda requires insurers to boost their capital in …

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2018/19 budget proposal

Economists welcome debt repayment but decry budget cuts for social sectors Kampala, Uganda | JULIUS BUSINGE | The government is seeking to increase spending by 5% to Shs34.3 trillion in the next financial year that starts in July amidst proposed budget cuts for critical sectors including security, education, health, social development, …

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ICPAU moves to advance accountancy

The state of accounting in Uganda is set to improve following initiatives that are being pushed by the Institute of Certified Public Accountants of Uganda (ICPAU) – all targeting practitioners. Kampala, Uganda | The Independent | Speaking at the 9th Practioners Forum held in Kampala at the end of last …

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Former Crane Bank board chair accuses BOU of frustrating investors

  Kampala, Uganda | THE INDEPENDENT | The former Crane Bank Chairman of Board of Directors, Joseph Biribonwa, has accused the Central Bank for frustrating investors. Biribonwa on Wednesday appeared with the former Crane Bank owner Sudhir Ruparelia before Parliament’s Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) that …

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