Non-Performing Loans (NPLs) is one of the key parameters for the banking industry. It determines the health of the industry. According to Bank of Uganda (BoU), the regulator of commercial banks, the NPL ratio is deemed healthy for the banking industry when it is below 5%. In this analysis, Business
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The International Monetary Fund (IMF) has applauded Uganda for its good track record of maintaining macroeconomic stability. This revelation is contained in IMF’s Country Report about the recently approved US$491.5 Million (Shs1.8 trillion) disbursement to Uganda to address the COVID-19 Pandemic. IMF Staff agree that the COVID-related fiscal measures are
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The New PAU Board of directors in a group photo A new Board of Directors that will steer the Petroleum Authority of Uganda (PAU) for the next four (4) years has been inaugurated. The new board was inaugurated by Dr. Kitutu Kimono Mary Goretti, the Minister of Energy and Mineral
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Uganda’s COVID-19 cases have shoot up to 203 after 43 new cases were confirmed on Friday May15, 2020 from 1,838 samples of truck drivers. According to Ministry of Health, 15 Ugandans,9 Kenyans and 4 Eritreans were confirmed positive at Elegu entry point while Mutukula point, 5 Tanzanians and 1 Burundian
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The Minister of Health, Jane Ruth Aceng has revealed that all truck drivers arriving via Mutukula point of entry will be tested for COVID-19 and results given within 45 minutes. "If you are found positive, you cannot proceed with your journey. If you're negative, you are released," the Minister said.
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The Uganda Shilling strengthened slightly on improved forex supply coupled by BOU mop operations that removed from the system 690 billion equivalent to 182 million dollars through REPO transactions and a deposit auction. Closing quotes for local currency in the week ending May 15, 2020 were at 3785/95 compared to
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Uganda’s banking industry assets grew to Shs32.83 trillion in 2019, up from Shs28.3 trillion recorded in 2018, according to 2019 financial results. This further signal that the sector had fully recovered from the toxic effects of the 2011 post election crisis but the gains are likely to be battered by
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COVID-19 pandemic and subsequent lockdown has reduced business activity in Uganda by more than 50 percentage points, a report by the Economic Policy Research Centre (EPRC)’s business climate index (BCI) has revealed. According to the report, sectoral analysis shows that businesses in agriculture experienced the largest decline in business activity
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The banking sector registered impressive results in 2019 compared to 2018 despite loss-making banks increasing from five to seven. For starters, Uganda currently has 26 commercial banks. However, this analysis focuses on 25 banks given the fact that Afriland First Bank Uganda Limited joined the Ugandan market effective September 12,
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Government introduced Digital Tax Stamps, a measure purposed to enhance tax compliance and to ensure that the Ugandan market has only authentic manufactured or imported products. Introduced in November 2019, manufacturers and importers are required to affix digital tax stamps onto every product manufactured or imported before distribution into the
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