Tag Archives: BOU

Kampala, Uganda | THE INDEPENDENT | The Deputy Speaker, Thomas Tayebwa has backed the position of the Bank of Uganda to  reject a foreign national nominated by the Standard Bank Group, to replace the former Chief Executive Officer (CEO) for Stanbic Bank Uganda, Anne Juuko. Tayebwa said it was right for …

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has refuted claims that its tough regulatory requirements are leading its regulated financial institutions to downgrade to ease the regulatory pressures on them. This comes as the regulator (BoU) notified the public that three commercial banks (Tier I) had been downgraded …

Rukungiri, Uganda | THE INDEPENDENT | The Uganda Investment Authority and the Bank of Uganda have started on a campaign to popularize the small and medium enterprise credit funds that were meant to help lower-income entrepreneurs out of the effects Covid-19 pandemic. There have been consistent reports that the Small Business …

Kampala, Uganda | THE INDEPENDENT | The suspension by Bank of Uganda (BOU) of the operations of Pivot Payments Ltd has raised fresh regulatory questions regarding Uganda’s financial sector. The Central Bank on Thursday suspended the licenses of the company, citing Section 13 of the National Payment Systems Act, 2020. The …

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda admits limited options against the depreciation of the Shillings, as it stares at the dwindling foreign exchange (FX) reserves. The Uganda Shilling traded at 4,000 to a dollar for the first time at a bank, as the depreciation trend continues for the …

Kampala, Uganda | THE INDEPENDENT |  The Bank of Uganda (BOU) has expressed fear over the rising borrowing by the government from the local banking industry, saying it could team up with other factors to affect the growth of the economy. As of the end of June 2023, the government …

Analysts say new BoU boss has done well so far Kampala, Uganda | IAN KATUSIIME | After steering the Central Bank for two years in acting capacity since then Governor Emmanuel Tumusiime Mutebile passed on in January 2022, Michael Atingi-Ego has been receiving positive ratings in monetary policy circles. Michael Atingi-Ego …

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda and the Deposit Protection Fund (DPF) issued a roadmap for the payment of depositors at microfinance company EFC Uganda, now under liquidation. According to the plan, and the laws, DPF will pay the protected depositors, or those with deposits not more …

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda (BoU) on Friday, took a decisive step by utilizing its authority as outlined in Sections 72 (1) and 12 (1) (d) & (g) of the Microfinance Deposit-taking Institutions (MDI) Act, 2003, as amended, to officially initiate the liquidation process for Entrepreneurs …

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has closed EFC Uganda Limited, a microfinance company due to poor financial standing. The action is based on Sections 72 (1) and 12 (1) (d) & (g) of the Microfinance Deposit-taking Institutions (MDI) Act, 2003 as amended. BOU’s decision which also places …