The banking sector and the legal fraternity in Uganda are mourning the untimely death of Ecobank Uganda Ltd long serving Head Legal & Company Secretary. Annette Mwiriza Mukunda, wife to Julius Mukunda breathed her last on Thursday in India. She was battling Cervical Cancer. “Death has robbed us of our
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Justine Bagyenda, the Executive Director Supervision-Commercial Banking at Bank of Uganda (BoU) has spoken out on the state of Uganda’s banking sector following the collapse of Crane Bank that has been in the news since late last year. “The banking sector is strong and resilient,” Bagyenda said. She made the
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The Bank of Uganda (BoU) has maintained the Central Bank Rate (CBR), a benchmark lending rate for commercial banks at 10% on account of low inflation levels and a boost in economic activity. Annual headline inflation declined to 5.7% in July 2017, down from 6.4% in June 2017 due to
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The Uganda Shilling held firm against the US dollar supported by tepid demand from market players during the week ending 11th August 2017. Most traders remained short on dollars while keeping an eye on political developments in Kenya and also looking out for a signal from the policy meeting that was
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The Bank of Uganda (BoU) is expected to reduce its Central Bank Rate (CBR), a benchmark lending rate for commercial banks tomorrow August11, 2017. In June, BoU eased the monetary policy to 10%, down from 11% in April, 2017 as a result of subdued inflationary pressures and weak growth prospects.
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Uganda’s economic recovery may take a little longer going by the rate at which private sector credit is growing. Latest statistics from Bank of Uganda (BoU) and Ministry of Finance, Planning and Economic Development indicate that lending to the private sector has been subdued since 2017 started despite easing in
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Robert Frederick Oliver Mwesigwa Nviiri, a Ugandan has founded Vule Airways, a privately-owned Ugandan registered airline that will hit the skies come November 2017. According to available information, the objective of the new airline that was founded in March this year is to fill the vacuum in the Ugandan air
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Uganda has imported over 54 million litres of fuel in the last 10 days, Business Focus exclusively reports. This was revealed by Dicksons Kateshumbwa, the Commissioner Customs Department at Uganda Revenue Authority (URA) while responding to media reports that hundreds of fuel trucks were stuck at Busia border as a
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KCB has announced that it will pay its investors an interim dividend amounting to Ksh3 billion (about UShs104.3b). This will see every shareholder get Ksh1 (UShs34.78) for each share they hold in the bank. This follows the half year financial results which saw the lender post Ksh10.26 billion (UShs356.8bn) net
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The National Drug Authority (NDA) has spoken out on the 12% verification fees charged on selected imported medicines that are also locally produced in Uganda. This follows speculation and misinformation that the 12% fees were applicable to all imported medicines. According to Fredrick Ssekyana, the NDA spokesperson, the 12% fee
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