Uganda's High Court, Commercial Court Thursday disqualified lawyers David Mpanga from FK Mpanga Advocates and Timothy Kanyerezi Masembe from MMAKS Advocate from representing Bank of Uganda (BoU) against businessman Sudhir Ruparelia over conflict of interest. The Central Bank is accusing property mogul Sudhir and his Meera Investments of fleecing the
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Private Sector Credit (PSC) growth has continued to recover supported by Bank of Uganda’s monetary policy easing, Business Focus reports. The Monetary Policy Report for December says that average annual PSC growth for Quarter to October 2017 was 6.2% relative to 5.6% in the previous quarter. However, the report adds
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Regional bank, KCB Group (KCB) is set to introduce a biometric access system that will allow customers to use their fingerprints and voice to securely log into their accounts, including getting services at ATMs, reports the Daily Nation. The tier-one lender has placed a tender inviting qualified technical experts to
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Bank of Uganda (BoU) Governor, Prof. Emmanuel Tumusiime-Mutebile will Monday December 18, 2017 issue the Monetary Policy Statement for the month of December. Analysts are anticipating a further reduction in the Central Bank Rate (CBR), a benchmark lending rate for commercial banks. It worth noting that the Central Bank reduced
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Ecobank Rwanda will invest more funds in agency and e-banking as the lender seeks to increase uptake of its digital products and bring on board the unbanked population across the country, official has said. This comes ahead of planned closure of five of the bank’s branches across the country next
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Fresh details have emerged as to why Bank of Uganda (BoU) dropped lawyers from MMAKS and AF Mpanga in mediation talks between Crane Bank (in receivership/BoU) and property mogul Sudhir Ruparelia. Daily Monitor reports that it was the Principal Judge Yorakamu Bamwine who advised Bank of Uganda to appoint new
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The French Ambassador to Uganda, Stephanie Rivoal has warned Ugandans against unnecessary expenditures, noting that the country can’t develop without a strong savings culture. “Uganda is one of the countries with the lowest savings culture in the word,” Rivoal said, “Ugandans like spending. Majority working class [people] don’t save; only
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In a bid to promote cashless banking by encouraging increased usage of debit and credit cards, Stanbic Bank Uganda today held a trolley dash for three lucky frequent Visa and MasterCard users off the Stanbic card machines in a promo dubbed “Merry Madness”. The three lucky customers Gad Rogers Tusiiime,
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Stanbic Bank Uganda in partnership with Smart Toto have launched the very first Community Library and Flourishing Centre in Mpigi, aimed at promoting community literacy development at the Kaleke Kasome Children’s Centre (KAKA) in Mpigi. Stanbic Bank made a generous donation of over 3,000 books to flourishing centre which will
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Kenyan banks will need to go back to the drawing board if results for the third quarter are anything to go by. The numbers cannot be more revealing; that big players have on average shed up to a quarter of their revenues relative to a similar period a year ago
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