Tag Archives: bank of uganda

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has said Uganda’s economy will only expand by 3-4% this financial year, half the earlier projection of 6% as the impact of coronavirus hits home. In the April 2020 monetary policy statement, BoU Governor Emmanuel Tumusiime-Mutebile noted that this is because …

Kampala, Uganda | THE INDEPENDENT | Parliament’s Appointment Committee has approved the appointment of Dr Michael Atingi-Ego as new Central Bank Deputy Governor. Dr Atingi-Ego’s vetting process was conducted via teleconferencing by the committee chaired by Speaker of Parliament Rebecca Kadaga. Parliament embraced technology in an unprecedented move to interface …

Kampala, Uganda | THE INDEPENDENT | The newly appointed Central Bank Deputy Governor Dr Michael Atingo-Ego will be vetted through teleconferencing following his inability to travel back to Uganda from the United States of America. Dr Atingi-Ego is among the several government appointees who are set to appear before the Appointments …

Kampala, Uganda | THE INDEPENDENT | The Uganda shilling has come under pressure against the dollar as people go into panic buying of dollars due to coronavirus. On Tuesday, March 24, the Bank of Uganda quoted the shilling at Shs 3,893/3,903 buying and selling respectively against the dollar. This is …

Kampala, Uganda | THE INDEPENDENT | Members of Parliament are concerned about the delayed appointed of Deputy Governor Bank of Uganda, saying it will cripple the work of the institution. The contract of the Deputy BoU Governor, Dr. Louis Kasekende expired on January 15th, 2020. However, the president is yet to appoint …

Kampala, Uganda | THE INDEPENDENT | A financial expert has praised Uganda’s currency stability, thanks to attractive interest rates on government securities and easy access of foreign currency. Eva Othieno Wanjiku, the Africa Strategist for Standard Chartered Bank, said they expected the Ugandan currency to lose more value in June …

Kampala, Uganda  | THE INDEPENDENT |  The International Monetary Fund-IMF has slashed Uganda’s growth projection from 6.3% to 6% this year, citing the country’s challenges to get oil out of the ground and government’s inability to do all budgeted activities.  After assessing the economy, the IMF said Uganda had challenges to …

Kampala, Uganda | THE INDEPENDENT | Dfcu bank remains the owner of the leasehold of the former Crane bank buildings it vacated, Bank of Uganda has said. The buildings, formerly hosting Crane bank branches but now being claimed by Meera Investments Limited, were taken over by Dfcu when it bought Crane …

Kampala, Uganda | THE INDEPENDENT | The Finance Committee of parliament has approved a request to recapitalize Bank of Uganda with Shillings 481 billion in the 2020/2021 financial year. This is part of the recommendations in the Committee report on the National Budget Framework Paper on votes in the finance …

Kampala, Uganda | THE INDEPENDENT  |  The Leader of Opposition in Parliament Betty Aol Ocan has questioned the continuous need to recapitalize Bank of Uganda saying that it could be a sign of financial indiscipline. The query is carried in her response to the National Budget Framework Paper for the coming …