The Finscope Uganda 2018 report has revealed that only 3 percent of the Uganda’s adult population borrow money from a commercial bank. The report was launched Wednesday morning at Kampala Serena Hotel. The Finscope survey found that the breadth of access to financial services is quite wide in Uganda, with
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Bank of Uganda (BoU) has expressed disappointment that no financial institution has applied formally for a license to offer Islamic Banking services in Uganda. Dr. Louis Kasekende, the Deputy Governor, BoU said the Financial Institutions (Islamic Banking) Regulations, 2018 are now in place. “These regulations permit the BOU to issue
Read MoreAnalysts at the Institute of Chartered Accountants in England and Wales (ICAEW) have revealed Africa’s most indebted countries based on their debt to GDP ratio. In its latest Economic Insight Report for Africa released on June19, 2018, ICAEW placed Mozambique as the number one most indebted country in Africa after
Read MoreBoU Intervenes As Shilling Hits All-Time Low Of 3890/3900
The Uganda shilling weakened to an all time low on the back of strong interbank demand, energy and manufacturing sector during the week ending 22nd June 2018. Trading was in the range of 3890/3900. However, after watching from the sidelines for a while, Bank of Uganda (BoU) intervened on the
Read MoreaYo Uganda has hit one million customers in less than 2 years of existence in Uganda. With a joint venture between MTN and MMI Holdings, aYo was formulated to have a strong focus on delivering micro-insurance solutions across the African continent. While addressing the media at kati- kati Restaurant on
Read MoreEcobank: Resilient East African Economies To Enjoy Sustained Economic Growth
Ongoing improvement in East Africa’s economic prospects is forecast by Ecobank’s research team in the newly published East Africa section of its flagship financial website, AfricaFICC. Ethiopia, Kenya, Tanzania and Uganda are the regions’ economic powerhouses and are enjoying a period of significant economic growth – their Gross Domestic Products
Read MorePoultry farming is one of the most lucrative businesses in Uganda and the world at large. The increasing demand for chicken (call it chicken meat) and eggs resulting from the growing population and townships across the country provides an opportunity for new and existing farmers to cash in on this
Read MoreUganda has 24 operating banks but the market is dominated by a few banks, a thing that could adversely hurt the economy in case one of them collapsed. Stanbic, dfcu, Centenary, Standard Chartered (StanChart) and Barclays control over 60% of the industry market share, according to an analysis carried out
Read MoreThe Uganda Shilling continued on its losing streak against the dollar undermined by the surging dollar demand amidst low forex flows during the week ending 14th June 2018. Bank of Uganda intervention in the previous week provided a short period of relief. Trading closed the week at 3,844.04/3,854.04. In the interbank money
Read MoreUganda’s public debt has hit USD10.53 billion (Shs40.4 trillion) as at March 2018. External debt comprise USD7.18 billion (Shs27.58 trillion), while domestic debt stands at USD3.35 billion (Shs12.8 trillion). This was revealed by the country's finance minister, Matia Kasaija on Thursday while presenting the Shs32.7 trillion 2018/19 budget at Kampala
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