Banks under their umbrella body Uganda Bankers Association (UBA) have rejected Uganda Revenue Authority (URA)’s directive to have them release all account details of their customers, arguing that it is unlawful. In a press statement dated April8, 2018 signed by Fabian Kasi, the UBA Chairman and Wilbrod Humphreys Owor, UBA
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The Government of Uganda is planning to ban importation of cars over eight years old, according to the Traffic and Road Safety Act 1998 (Amendment) Act, 2018. “A person shall not import a motor vehicle which is eight years old or more from the date of manufacture,” Clause 14A (1)
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The Uganda Shilling traded in a weak territory during the week ending 6th April 2018 undermined by a spillover of demand from the previous week. The market opened short, driving the Shilling through the key level of 3700 on the sell side. Later in the week, the depreciation pressure cooled
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A big misunderstanding has erupted between Uganda Revenue Authority (URA) and commercial banks after the tax body asked the latter to unveil it with all account details of their customers, Business Focus reports. In a letter dated March16, 2018, URA asks banks to send in all information of their customers
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Uganda’s private sector continues to recover, according to a new report. According to Stanbic Bank Uganda’s PMI index for March, the headline figure hit 53.2 in March, up from 51.1 in February indicating a further improvement in the health of the private sector. Commenting on March’s survey findings, Jibran Qureishi,
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The office of the Auditor General is carrying out a broad forensic audit into the operations of Bank of Uganda and is demanding accountability for Shs200 billion taxpayers’ money that was injected into Crane Bank before it was sold to Dfcu Bank. The AG is carrying out the audit on
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The Government of Uganda through the Public Service Commission has advertised 118 top jobs from various Ministries and Departments, Business Focus has exclusively learnt. In a letter dated April 3, 2018 addressed to all Permanent Secretaries, the Solicitor General, the Executive Director, Kampala Capital City Authority, all Chief Executive Officers,
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Bank of Uganda (BoU) has released interest rates and bank charges for personal accounts of Uganda’s 24 banks as at January1, 2018. This highlights the most expensive and affordable banks. BoU said it is publishing these Commercial Bank Interest rates and charges to promote transparency and enhance competition in the
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The upgraded version of Ecobank’s revolutionary mobile app has attracted 3 million new customers in just six months, taking the total number of users to 4 million in Africa. The app builds on the core functionality that saw the original version applauded as a game changer for African banking by
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It’s not party time yet for dfcu bank as borrowers increasingly fail to pay back their loans, a thing that could adversely affect the bank’s performance going forward. According to dfcu bank’s released results for 2017, borrowers have completely failed to pay back Shs27.2bn (the bank has since written off
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