Tag Archives: BOU

COSASE shouldn’t sacrifice economic stability at the altar of publicity as it could collapse the economy COMMENT | SIMON MUTUNGI | The Chairman of the parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) Abdu Katuntu (MP Bugweri County) rejected President Yoweri Museveni’s advice to hold the committee proceedings …

From Uganda’s celebrated bankers to 2018 bummers Kampala, Uganda | HAGGAI MATSIKO | In 1991, some of the most powerful people in business and public office In Uganda from western Uganda jointly opened a bank. They called it the Kigezi Bank of Commerce with a commence capitalization of US$20 million. They …

Kampala, Uganda | THE INDEPENDENT | The Governor of Uganda’s Central Bank Emmanuel Tumusiime Mutebile has insisted that he was right to close seven commercial banks between 1993 and 2017. Mutebile made the remarks on Thursday as he gave his closing remarks on the ongoing probe by parliament’s Committee on Commission’s …

Kampala, Uganda | THE INDEPENDENT | Parliament has granted more time to the Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) to conclude the probe into closure and sale of seven Ugandan commercial banks. The two and half year term of the current committee led by Bugweri County MP Abdu …

    President will shake up central bank, insiders say Kampala, Uganda | HAGGAI MATSIKO | When the committee investigating the central bank over closed banks starts querying the process surrounding the sale of Crane Bank, one particular question will arise again: How did you zero on dfcu Bank as the …

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda officials have failed to justify the absence of an evaluation report of the assets and liabilities of Crane Bank Limited before its sale to DFCU. The irregularity was queried by the Auditor General in his 2017 forensic audit report. According to the …

Kampala, Uganda | THE INDEPENDENT | The Central Bank Governor Emmanuel Tumusiime Mutebile has said that they will review the Bank’s policy on conflict of interest. Parliament’s committee on Commissions, Statutory Authorities and State Enterprises (COSASE) is currently investigating circumstances under which the Central Bank closed and sold seven commercial banks …

Kampala, Uganda | THE INDEPENDENT | Uganda is presently enjoying trade surplus with all her neighbours, according to the Bank of Uganda. Trade surplus is the amount by which the value of a country’s exports exceeds the cost of its imports. According to Adam Mugume, Bank of Uganda’s Executive Director for …

Kampala, Uganda | THE INDEPENDENT | Justice Irene Mulyagonja, the Inspector General of Government – IGG has observed that the on-going probe on Bank of Uganda – BoU is a result of poor governance practices. Mulyagonja says that failure to enforce good governance practices enabled corrupt officials at Central Bank …

The Bank of Uganda has maintained the benchmark central bank rate at 10 percent. Kampala, Uganda | THE INDEPENDENT | Governor BoU Emmanuel Tumusiime Mutebile says that the 12-month inflation forecast has improved slightly relative to October 2018 forecast. The Consumer Price Index data by Uganda Bureau of Standards indicates that …