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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The Bank of Uganda (BoU) Governor, Prof. Emmanuel Tumusiime-Mutebile has admitted that that there are challenges at the Central Bank that have been exposed during the Parliamentary Committee of Commissions, Statutory Authorities and State Enterprises (COSASE) probing. COSASE has recently been probing BoU officials over the controversial closure and sale
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It is a public secret that all is not well at Bank of Uganda, the regulator of Uganda’s banking sector. The ongoing probing of BoU officials by the Parliamentary Committee of Commissions, Statutory Authorities and State Enterprises (COSASE) over the controversial closure and sale of seven defunct banks has exposed
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How the Bank of Uganda (BoU) spent over Shs478bn in running defunct Crane Bank after taking it over continues to puzzle Ugandans and MPs inclusive. To know exactly how the money was spent, MPs on the Committee of Commissions, Statutory Authorities and State Enterprises (COSASE) on Monday asked the Auditor
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By Aloysious Kasoma dfcu Bank, in partnership with NTV Uganda and Price Waterhouse Coopers (PwC) have awarded the winners of the second edition of the nationwide Savings and Investment campaign dubbed ‘Battle for Cash’. Aimed at building a savings and investments culture in Uganda, the ‘Battle for Cash’ challenge in
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Former directors and shareholders of the defunct Global Trust Bank are seeking 315.7 billion shillings in compensation for the illegal closure of the Bank. They are demanding full compensation equal to the direct cash equity investments of US Dollars 35.3 million with interest at the rate of 10 per cent
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A number of Members of Parliament (MPs) on the Committee of Commissions, Statutory Authority and State Enterprises (COSASE) have disagreed with Committee Chairperson, Abdu Katuntu over the wealth of Bank of Uganda Deputy Governor Dr. Louis Kasekende (in featured photo) and former Executive Director in charge of Supervision Justine Bagyenda.
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