Tag Archives: BOU

Constitutional Amendment Bill 2020 introduced by Michael Maranga seeks to limit the term of the deputy governor and the board members to only ten years. Kampala, Uganda | THE INDEPENDENT | The Legal and Parliamentary Affairs Committee of Parliament has rejected a proposal to have the deputy governor Bank of Uganda (BoU) serve …

Can government respond to private sector needs amidst pressures related to COVID-19? Kampala, Uganda | JULIUS BUSINGE | KK Foods, exporters of fresh foods and vegetables, enjoyed market opportunities in Europe, US and Canada   until Covid-19 restrictions struck in March last year. Export volumes dropped from 63 tonnes to 40 …

  However, the financial services sector is not out of the woods yet Kampala, Uganda | JULIUS BUSINGE | Uganda has for the fourth consecutive year maintained the 10th position in the Absa Africa Financial Market Index 2020, signalling a stagnation in performance. The report, released by Absa Bank shows …

Kampala, Uganda | THE INDEPENDENT | The Central Bank does not need recapitalization in the 2021/2022 financial year according to Deputy Governor Michael Atingi-Ego. He disclosed this while appearing before the Budget Committee of parliament on Wednesday. He was appearing on the request of the committee to clarify on the Shillings …

Kampala, Uganda | THE INDEPENDENT | A report by the Ministry of Finance, Planning and Economic Development indicates that banks gave out loans worth 2.65 trillion shillings to the private sector in the first quarter of the financial year 2020/2021. The pre-election economic and fiscal update issued by Moses Kaggwa, the …

How coronavirus turned Uganda’s economy upside down Kampala, Uganda | JULIUS BUSINGE | 2020 has been a bad year for the economy. Growth opportunities have been hampered by the spread of COVID-19 and nationwide lockdown measures which led to closure of businesses and general decline in demand for goods. Jobs …

The real impact of COVID-19 pandemic on banks will be seen in the second or third quarter of next year Kampala, Uganda | ISAAC KHISA | Ugandan commercial banks may believe that they are headed for recovery amid the novel coronavirus pandemic but the headwinds are still big, said Tumubweine …

Kampala, Uganda | THE INDEPENDENT | The financial sector forecast is that the full effect of the Covid-19 pandemic will be realized in the next two years when investments and projects that were started earlier were supposed to have started yielding returns. The real bad effect of the pandemic has not …

Lending to be directed to sectors crucial to socio-economic development including SMEs, trade, industry and agri-business Kampala, Uganda | JULIUS BUSINGE | Interest rates have risen over the past two quarters this year but commercial bank executives say current levels are still fair to both lenders and borrowers. The latest …

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda (BoU) has the started process for complete closure of Crane Bank Limited, a move that will see the defunct lender’s chapter closed for good. The Central Bank as a liquidator issued a statement on Friday. A liquidator is an officer or entity …