dfcu Bank has flagged off ten (10) women entrepreneurs traveling to Nairobi on an all-expense paid study excursion from 16th to 19th January 2018. The women entrepreneurs were part of eighty (80) women who responded to call for business proposals under the Rising Woman initiative that run from July to
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A section of Exim Bank (Uganda) Limited staff have rejected the appointment of a top manager, accusing him of being incompetent and unqualified for the job. Nitin Shripad Shendye, the Head of Products at Exim Bank is the Manager in question. According to a Bank of Uganda letter dated June2,
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Members of Parliament have today directed Bank of Uganda (BOU) to withdraw the vehicle and security they have been providing to their former Director Bank Supervision, Justine Bagyenda. For some months now Bagyenda who retired in July 2018 has been appearing before the Parliamentary Committee on Commissions, Statutory Authorities and
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The bodyguard of former Bank of Uganda (BoU) Executive Director in charge of Supervision, Justine Bagyenda has revealed that lawyer Timothy Kanyerezi Masembe of MMAKs Advocates was present on the day they sneaked out documents from the Central Bank. Juliet Adikolet (Bagyenda bodyguard) made the remarks on Thursday while appearing
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The former Central Bank Executive Director in charge of Supervision Justine Bagyenda has been accused of usurping the powers of the Legal Department, in her ploy to sell off Crane Bank Limited. The accusation came after reports that Bagyenda engaged external lawyers from MMAKs Advocates to offer financial advisory services
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Bank of Uganda officials have failed to defend the Shs900m paid to MMAKS advocates for external legal advice during Crane Bank sale. BoU officials were Tuesday appearing before Parliament’s Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) in which they were tasked to explain how they hired MMAKS Advocates
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2019 promises to be an exciting year for Uganda’s banking sector as smaller banks aim to take on the ‘big boys’. Banks are set to build on gains registered in 2018 to offer more customer-friendly products and services. According to Bank of Uganda (BoU) private sector credit increased to 12.2%
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Going by official figures from the Bank of Uganda (BoU), the banking sector has overcome the turbulent times that culminated from the 2011 crisis to register an impressive performance in 2018. It should be noted that the 2011 election expenditure saw inflation as well as interest rates cross the 30%
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Just a few years back, the Government had sought to compel banks into forced marriages arguing that the country had too many lenders. It took Parliament to fight off repeated bids by the National Treasury to increase the minimum core capital for banks from Sh1 billion to Sh5 billion by
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The Bank of Uganda Deputy Governor, Dr. Louis Kasekende has asked the Speaker of Parliament, Rebecca Kadaga to find an appropriate punishment for Aruu County MP, Odonga Otto for ‘exposing his wealth’. In his written response to the Speaker, Kasekende described Odonga’s documents as defamatory. “I therefore pray that you
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