Tag Archives: bank of uganda

Kampala, Uganda | THE INDEPENDENT | Kalungu West Member of Parliament, Joseph Ssewungu has raised concern about the delayed appointment of the Central Bank Governor. Ssewungu raised the issue during the plenary sitting on Wednesday and recounted that for more than a year, the Central Bank has operated without a substantive …

Kampala, Uganda | THE INDEPENDENT | The government is to pay Shs2.5 trillion to the Bank of Uganda (BoU) in matured securities after its repayment was disrupted by the advent of COVID-19. The money is a domestic loan acquired by the government through the Bank of Uganda as an intermediary for individuals …

Kampala, Uganda | THE INDEPENDENT | The use of digital payment systems in Uganda has grown considerably both for mobile money service providers and banks for the year that ended in June, a new report by the central bank said Friday. The demand for digital payment services was mainly driven by …

Kampala, Uganda | THE INDEPENDENT | The banking industry has defended its changing mode of operation which sections of the public describe as less friendly, saying they have learnt from the effects of global shocks on the businesses and economies generally. In recent times, Bank of Uganda has compelled commercial banks …

Kampala, Uganda | THE INDEPENDENT | Xente Tech Ltd, a financial technology platform that simplifies payments and finance for businesses, has obtained the Payment Systems Operator (PSO) license from Bank of Uganda. The National Payment System Act-2020, implemented under the National Payment Systems Regulations, seeks to drive digitization of Ugandan entities as …

Kampala, Uganda | THE INDEPENDENT | The Uganda shilling continues to depreciate against the US dollar as both local and external factors exert pressure on the local and other emerging currency markets. For more than a week, the shilling has just stayed short of touching the 3,900 level against the dollar, amidst …

Kampala, Uganda | THE INDEPENDENT | The banking industry is worried over the rate at which the cost of living in Uganda is rising threatening the recovery of the economy. The Uganda Bureau of Statistics reports that headline inflation steadily increased to 6.8 per cent at the end of June, from …

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has tasked the National Social Security Fund-NSSF to ensure there are no cases of cyber fraud as the fund launches a three-in-one social security smart card. With the card, the fund’s qualified members will be able to directly withdraw their NSSF …

Kampala, Uganda | THE INDEPENDENT | The Central bank on Thursday announced that it was increasing the Central Bank Rate (CBR) to 7.5 percent from 6.5 percent to control the rising inflation. In a statement issued, the Bank of Uganda said it will continue to raise the CBR until inflation is …

Kampala, Uganda | THE INDEPENDENT | The Uganda Shilling continues its downward trend against the US dollar more than two months since its appreciation journey against the dollar was halted. It has since depreciated by more than 200 shillings. The official foreign exchange rate by the Bank of Uganda put the …