Tag Archives: bank of uganda

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has further cut growth forecasts to just over 2 percent an indicator that the impact of coronavirus disease on the economy is deeper than earlier thought. In the June monetary policy statement issued on Monday,  the central bank said that the …

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has issued a letter of no objection to the integration of NC Bank and Commercial Bank of Africa to make one bank with the deal expected to be completed at the end of June. The merger of the banks had …

Nakaseke, Uganda | THE INDEPENDENT | The National Economy Committee of Parliament has raised concern over the management and credibility issues at Bank of Uganda in light of a fresh loan request of USD 491 million. The International Monetary Fund loan will see the Bank of Uganda (BoU) take US …

Kampala, Uganda | THE INDEPENDENT | As Uganda prepared to impose a lockdown to stem the spread of the coronavirus disease (COVID-19), some investors withdrew billions of shillings from the country and ran for safe havens according to Bank of Uganda. In just one month between February and March 6, …

Kampala, Uganda | THE INDEPENDENT | Uganda Development Bank -UDB will be placed under the watch of Bank of Uganda with the aim of strengthening it. UDB is 100 percent owned by the government and has been self-regulating, audited by the Auditor General and reporting to parliament to answer queries …

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 …

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 …

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 …

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 …

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% …