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Analysis & OpinionsBanking

Ugandans Increasingly Seeking Bank Loans Despite High Interest Rates

Prof. Emmanuel Tumusiime-Mutebile, the BoU Governor Ugandans are increasingly seeking bank loans but interest rates largely remains high in comparison to the Bank of Uganda’s Central Bank Rate (CBR), a benchmark lending rate. However, despite increased loan applications, loan approvals remain low. According to Bank of Uganda’s Monetary Policy Report

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