Tag Archives: BOU

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 …

Kampala, Uganda | THE INDEPENDENT | An activist has petitioned the High Court Civil Division in Kampala seeking to terminate the appointment of Dr Twinemanzi Tumubweine the executive director in charge of supervision at Bank of Uganda. In his suit, Arnold Anthony Mukose argues that Twinemanzi is not fit to be …

Tough times ahead as miscalculated spending, political activities and coronavirus threaten fast recovery of economic activities  Kampala, Uganda | JULIUS BUSINGE | Uganda’s economy has been on a recovery path following the easing of COVID-19 pandemic lockdown restrictions, but the uncertainty surrounding the upcoming general elections is the latest concern, economists …

Reforms cover public debt, interest rates, taxation and public spending Kampala, Uganda | JULIUS BUSINGE | A group of civil society organisations under their umbrella organization Civil Society Budget Advocacy Group (CSBAG) have presented a list of budget proposals to government that they think can jumpstart the economy that has …

Kampala, Uganda |  THE INDEPENDENT |   Money lenders in Uganda have petitioned the East African Court of Justice asking them to quash a recent commercial Court decision in a case involving businessman Hamis Kiggundu and Diamond Trust Bank Uganda and Kenya. The lenders under their umbrella, Money Lenders Union Limited …

Kampala, Uganda | THE INDEPENDENT & URN | Bank of Uganda (BOU) has stated that foreign banks lending deposits held in jurisdictions other than Uganda are regulated and supervised by their home authorities, and it is not mandatory for a foreign bank to establish a representative office in Uganda in …

  Kampala, Uganda | Isaac Khisa | Uganda’s mobile money transactions grew by 19.3% to Shs 79.8 trillion for the year ending June.30, according to Michael Atingi-Ego, deputy governor, Bank of Uganda. Atingi, who was speaking during the Uganda Bankers Association retreat at the Kampala Sheraton Hotel on Sept.22, said out …

Bank of Uganda should utilize its mandate to regulate spending during 2021 electoral processes COMMENT | Fred Kasalirwe | The recently concluded National Resistance Movement (NRM) primaries have seen massive monetization of the electoral processes with huge sums of money seen exchanging hands to influence voters’ decisions. If this is just …

The lender recorded a 4.9% drop in net profit to Shs127.4billion Kampala, Uganda | ISAAC KHISA | Stanbic Bank has suffered a 4.9% drop in pre-tax profit in the first half of the year as credit impairment charge and coronavirus disruption takes toll on the country’s largest commercial lender. The …

Bank of Uganda is optimistic the economy will recover amidst challenges Kampala, Uganda | JULIUS BUSINGE | Can Uganda’s economy recover at a much needed speed amidst threats posed by COVID-19? This is the question that the Bank of Uganda technical managers seem to be pondering with as they keep …