The Bank of Uganda (BoU) Monetary Policy Committee (MPC) has raised the Central Bank Rate (CBR), a benchmark lending rate for commercial banks by 1 percentage point to 10 percent. The Central Bank attributed the increase to the upward trajectory in inflation, with core inflation (excludes temporary price volatility as
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Prof. Emmanuel Tumusiime-Mutebile, Governor, Bank of Uganda, has once again assured politicians that nobody will interview with the indepence of the Central. He made the remarks at the Hosting of the Parliament of Ghana Finance Committee Members at a Benchmarking Exercise to Bank of Uganda on Thursday, September 27, 2018.
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The Bank of Uganda (BoU) has in the past closed commercial banks on the grounds that they are ‘significantly undercapitalized’. However, according to the Bank of Uganda Annual Report 2017/2018 released on September 28, 2018, Uganda’s Central Bank was undercapitalized to a tune of Shs468.86bn as of June30, 2018. The
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Ecobank Uganda recently held a Chinese forum at Arirang hotel with the aim of wooing Chinese investors to bank with them. In his speech, Clement Dodoo (in featured photo), the Ecobank Uganda Managing Director, said considering the fact that China is seeking to partner with Africa in agriculture, education and
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dfcu Bank has been carrying out free business trainings for women entrepreneurs across the country. Under the initiative dubbed ‘Rising Woman’, aimed at recognizing, celebrating and promoting a culture of mentorship among women in business in Uganda, the trainings kicked off in August with the first session happening in Lira,
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dfcu Bank has been recognized as the number one promoter of financial literacy in Uganda. The recognition was made at the 2018 Digital Impact Awards Africa which were held last Friday at the Kampala Serena Hotel. The award for promoter of financial literacy was given to the bank for its
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Uganda Revenue Authority (URA) has today recognized Stanbic Bank for being among the top key tax payers in Uganda. The recognition is in line with the Authority’s tax appreciation week set for September 26th to 28th that aims at paying accolades to every tax payer in Uganda who has paid
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By Damalie Nankya The need for quick and easy access to credit is always been a real need for borrowers with urgent requirements. However, when someone needs urgent financial assistance, they tend to ask family and friends or other close circles for help rather than go through the process of
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By Prof. Emmanuel Tumusiime Mutebile, Governor, Bank of Uganda On Monday, September 17 2018, the Daily Monitor ran a story with the headline “How BOU Blew Shs478 billion in the Crane Bank Takeover”. The story and its headline was seriously misleading. The story claimed that the Bank of Uganda (BOU)
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Insurance has been called the “ugly duckling” of the financial services industry. Nobody seems to understand what it is about. We seem to have sat in one meeting and agreed that insurers are “thieves”. I have come across many people who think third party liability for motorised vehicles is a
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