State House Anti-Corruption Unit has raided Bank of Uganda (BoU) arresting five directors in the ongoing corruption fight in government agencies, Eagle Online reports. According to security sources, the move to arrest the five was informed by whistleblower who informed the State House Anti-Corruption Unit about loss of huge monies
Read More
dfcu Limited shareholders have approved a dividend payout of Shs33.01 per share translating into Shs24.69bn for the year 2018. This was reached at unanimously with only one objection during the company’s 54th Annual General Meeting (AGM) held at Hotel Africana, Kampala on Thursday 13th June 2019. dfcu Chairman, Board of
Read More
Who are Uganda’s biggest lenders? This is exactly what you’re going to find in this article. According to 2018 commercial banks’ figures exclusively analysed by Business Focus,the 24 operating commercial banks in Uganda advanced Shs13.31 trillion in loans to customers, up from Shs11.89 trillion in 2017. This represents a growth
Read More
The Bank of Uganda Governor Emmanuel Tumusiime Mutebile has advised the general public to take note of the changes made by the Central Bank of Kenya on its currencies. In a media release circulated on June 11, Mutebile urged the public to be vigilant when transacting in the Kenyan currency.
Read More
Orient Bank has partnered with Makerere University Business School (MUBS) to train over 30 proprietors of Small and Medium Enterprise (SMEs) in a move aimed at growing these businesses into large enterprises. This is the 3rd edition of the Orient Bank Business Academy. Speaking at the launch of this edition
Read More
Two foreign banking institutions have applied for licenses from Bank of Uganda, the regulator of Uganda’s banking sector to offer Islamic Banking products and services, Business Focus reports. It is understood that many existing banks in Uganda are cautious about offering Islamic Banking products because this will affect their profitability.
Read More
Uganda has 24 operating commercial banks. The banking industry saw 19 banks record a net profit of Shs790.092bn in 2018 compared to the 17 banks that posted a profit of Shs785bn in 2017. This means that five (5) banks made losses in 2018. The five-loss making banks in 2018 made
Read More
Saving and Credit Cooperative Organisations (SACCOs) are by nature supposed to get resources from members and lend back to them at lower interest rates. They are also used for saving purposes. However, as a SACCO grows, members’ contributions may not be enough to serve its purpose. This explains why many
Read More
A group of people calling themselves Concerned Uganda citizens has petitioned the speaker of parliament, Rebecca Kadaga asking her to stop the Committee on Commissions, Statuary Authorities and State Enterprises (COSASE) from re-investigating Bank of Uganda (BoU) over the seven controversially closed and sold banks by the Central Bank. This
Read More
Private sector credit to agricultural sector has increased from Shs562 billion in 2013 to Shs1.53 trillion in 2018, figures from the Bank of Uganda (BoU) show. The increased lending from commercial banks is attributed to the introduction of Agricultural Credit Facility (ACF) in 2009 to provide medium to long term
Read More
