Tag Archives: BOU

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 …

Kampala, Uganda | PWATCH-UG| The Ministry of Finance has revealed that the Government will spend up to UGX 24.9 trillion on servicing Uganda’s public debt. This comes months after the Bank of Uganda reported that Uganda’s public debt as of August 2023 stood at UGX 88.807 trillion. The August debt …

Kampala, Uganda | THE INDEPENDENT | The Uganda Shilling ended the year 2023 on a stronger note, having stabilized against the US Dollar, and did better than its peers in the East African Community, according to analysts. The currency strength has fluctuated between 3,767 and 3,815 to the US dollar over …

Kampala, Uganda | THE INDEPENDENT | The government is expected to increasingly finance its budget shortfalls from domestic borrowing as international financing options decline further. This, according to analysis of the fiscal performance at the beginning of this financial year, will continue until, hopefully, when oil imports and imports of oil …

Since the last MPC in October, new data has shown that amidst a surge in fuel prices, inflation has continued to slow down Kampala, Uganda | THE INDEPENDENT | On Dec.6, the Bank of Uganda (BoU) kept the central bank rate unchanged and promised to keep monitoring inflation and ensuring the …