Tag Archives: BOU

Other banks say the government needs to urgently pass regulatory framework Stanbic has identified about 1000 agents to deal with as soon as the proposed new agency banking is legalised, according to the Chief Executive Officer of Uganda’s largest bank, Patrick Mweheire. In an interview with The Independent, Mweheire said …

Christine Lagarde says government need to focus on reducing inequality The International Monetary Fund Managing Director Christine Lagarde on Jan. 27 found herself on the defensive as the audience sought for the global fund’s roles on Uganda’s development. This was during a public lecture held at the Kampala Serena Conference …

Lagarde is visiting when the government is desperate for new money but in no mood to listen. Usually that means no deal but possibly not when the IMF and Museveni need each othe. Meetings between teams from IMF and planners of Uganda’s economy, especially President Yoweri Museveni, have historically involved …

Bank of Uganda has confirmed that it has transferred the assets of Crane Bank to DFCU Bank. “In exercise of its powers as Receiver, under Sec 95(1)(b) of FIA, BoU has now transferred the liabilities (incl deposits) of CB to DFCU Bank,” Bank Governor Emmanuel Tumusiime-Mutebile told the press in …

BoU cut its central bank rate from 13% in October to 12% in December to stimulate economic activities As 2017 business starts commercial banks are optimistic that the sector will register a surge in profitability on the back of improving economy and a reduction in Non-Performing Loans. Speaking to The …

Business captains punch holes in Bank of Uganda projections Uganda’s economy is expected to pick up steam this year, boosted by public infrastructure spending and easing of the monetary policy to stimulate economic growth. At least that is the view of Bank of Uganda Governor Emmanuel Mutebile. Mutebile spewed his …

JANUARY: WHEN MUSEVENI MARKED 30 YEARS IN POWER Jan.1: Police stakes Shs 20m on Aine’s head The year started with the campaigns for the 2016 Presidential and Parliamentary elections in full-gear. The head of security for one of the candidates, former Prime Minister, Amama Mbabazi, had gone missing. Christopher Aine …

Non-performing loans more than doubles to 7.7 %, Crane Bank sinks As 2016 comes to an end, it is clear that it has been a year in which the banking industry choked on surging losses on the back of bad loans. One of the biggest banks; Crane Bank, suffered a …

VIDEO: The Central Bank has once again eased the Central Borrowing Rate by one percentage point to 12 percent. According to Professor Emmanuel Mutebile, the Central Bank governor, the reduction is aimed at keeping the domestic economic growth momentum and inflation in check. Inflation has slightly picked up in the past …

Experts tell Museveni, Mutebile, Muhakanizi President Yoweri Museveni’s unchecked spending and the Ministry of Finance and Bank of Uganda efforts to clean have created a lope-sided economy that is hurting everyone. That is the view of several economists interviewed by The Independent. Dr. Lawrence Bategeka, formerly a researcher at the …