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Banks Lending Rates Have Reduced To 16.3% But Credit To Private Sector Remains Subdued- BoU

 The banks’ weighted average lending rate has maintained a downward trajectory since February 2021 in line with the reduction in Central Bank Rate (CBR), Bank of Uganda (BoU) has revealed in its State of the Economy Report dated September 2021. “The average lending rate on shillings loans stands at 16.3 percent in

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BankingNews

Ecobank Uganda Takes Action On Mental Health As Part Of Its Commitment Towards Better Health

Grace Muliisa, Managing Director Ecobank Uganda  Ecobank Uganda, a member of the leading pan-African banking group, the Ecobank Group, is celebrating the ninth annual Ecobank Day, its flagship corporate and social responsibility annual event that ‘gives back’ to the local communities across Africa. This year Ecobank Day will be held

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Banking

Banks Approved Loans Worth Shs821bn In August As Ugandans Increasingly Go For Personal Loans

The Ministry of Finance has revealed that financial institutions extended loans to a tune of Shs821bn in August 2021, with borrowers seeking personal loans applying for the biggest chunk of loans. The Ministry’s revelation is contained in the Performance of Economy Report for September 2021. “The value of loans approved for disbursement

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Analysis & OpinionsBankingICT

Mobile Money Transactions Hit Record Shs113 Trillion -BoU Report

Mobile money transactions  hit a record Shs113.38Trn in Financial Year 2020/21, the Bank of Uganda 2021 Annual report has revealed. The Central Bank Governor Prof. Emmanuel Tumusiime-Mutebile says that in accordance with the provisions of the National Payment Systems Act 2020, each of the companies received a Payment Systems Operator (large funds transfer)

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BankingEducation

Education Sector Loan Portfolio Stands At Shs2 Trillion As COVID Hits Schools Hard

The Executive Director of Uganda Bankers’ Association (UBA), Wilbrod Humphreys Owor says that the total direct school loan portfolio is currently 1.3 trillion Shillings and this includes institutional and personal loans and the accumulated interest. He adds that their records also indicate another 600 billion debt under private sector institutions

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BankingNews

Banks Refuse To Write Off Loans, Ask Gov’t To Create Shs1 Trillion Fund For Struggling Private Schools

Wilbrod Owor, Executive Director UBA Commercial banks under their umbrella body, Uganda Bankers Association (UBA) have warned Ugandans against asking financial institutions to write off loans incurred by private school owners, saying pressure should be put on Government to set up a medium term education sector recovery fund of USD300Million equivalent to

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