Kampala, Uganda | THE INDEPENDENT | High Court has dismissed a suit in which Jaffery Forex Bureau sought compensation of Shillings 9.5 billion from Bank of Uganda for illegal withdrawal of its license. Jaffery Forex Bureau ran to the High Court Civil Division in July last year challenging a decision by …
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Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has explained that interest on loans will still count even when you have been granted a loan payment holiday during the restructuring in the coronavirus crisis. Speaking through a webinar with the Rotary Club of Kampala South on Monday evening, Dr Tumubwine …
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Kampala, Uganda | THE INDEPENDENT | In a move to calm fears over the future of Tropical Bank Limited, Bank of Uganda has said its owners have injected in money and now the bank is well-capitalized. In the audited accounts for 2019, it was revealed that the bank had been undercapitalized …
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Kampala, Uganda | THE INDEPENDENT | Uganda’s export earnings in the twelve months to February 2020 dropped by at least USD 1.1bn (27.2%), equivalent to 4.1 trillion shillings. According to the Bank of Uganda, this has worsened by the country’s trade deficit – a situation when a country’s imports exceed its …
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Kampala, Uganda | THE INDEPENDENT | Uganda could emerge from the COVID-19 crisis as the most resilient compared to the other countries in the region, the International Monetary Fund (IMF) has said. In the latest report of the global outlook for 2020, the IMF says Uganda’s growth will be 3.5% …
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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 …
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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 …
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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 …
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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 …
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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 …
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The Independent Uganda: You get the Truth we Pay the Price