Tag Archives: currency

Mbarara, Uganda | THE INDEPENDENT | The police in Mbarara have arrested a man for allegedly dealing in fake currencies. Godfrey Kazinda was arrested on Thursday and found with fake 46,200 US Dollars and 2.5 million Shillings. The Rwizi Region Police Spokesperson Samson Kasasira, says Kazinda was arrested last year in …

  Mbale, Uganda | THE INDEPENDENT | Two people have been arrested in Mbale for allegedly dealing with counterfeit money. The suspects are Rashid Mudebo a resident of Namanyonyi in Mbale City and Jacqueline Anzilim a Kenyan National from Busia.   They were arrested on Friday around ABSA Bank in Mbale …

Abuja, Nigeria | AFP |  English-speaking West African countries on Thursday criticised a move to rename the CFA franc used by former French colonies, saying the move jarred with plans to introduce a region-wide currency of the same name. Members of the West African Monetary Zone (WAMZ) Convergence Council said …

Abidjan, Ivory Coast | AFP | Eight West African countries Saturday agreed to change the name of their common currency to Eco and severed the CFA franc’s links to former colonial ruler France. The CFA franc was initially pegged to the French franc and has been linked to the euro …

Kampala, Uganda | JULIUS BUSINGE | In the past few days social media has been awash with pictures of currency notes with political messages written on by suspected supporters of President Yoweri Museveni and Kyadondo East Member of Parliament, Robert Kyagulanyi (Bobi Wine). The notes in question are of Uganda …

San Francisco, United States | AFP | Pioneering digital payments firm PayPal on Friday said it is abandoning an alliance intended to oversee the Facebook-backed Libra cryptocurrency, which has come under attack by regulators. “PayPal has made the decision to forgo further participation in the Libra Association at this time,” …

Shanghai, China | AFP |  China’s decision to let its currency weaken against the dollar on Monday sent global markets diving further into the red and provoked a Twitter tirade from US President Donald Trump. The deteriorating picture appeared to worsen as official Chinese media reported Beijing ceased purchases of …

Kampala, Uganda | THE INDEPENDENT | The State House Anti-Corruption Unit has confirmed they grilling several Bank of Uganda officials in relation to an investigation of a dubious recent procurement. Media in Kampala are reporting the investigation is about a recent procurement of new currency notes. Reports indicate there was extra …

Kampala, Uganda | THE INDEPENDENT | The Opposition in Parliament has welcomed the passing of the East African Monetary Institute Bill 2017, which will pave way for a single currency in East Africa. The East African Monetary Institute Bill sought to set up the agency to perform the role of a …

The real cost of the digital cryptocurrency’s fall from grace Kampala, Uganda | THE INDEPENDENT | Bitcoin hit its highest valuation a year ago, reaching above £15,000 on some exchanges. Since then, a unit of the cryptocurrency has dropped 80% and is valued at less than £3,000. According to Sky …