The committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has learnt with shock that former Executive Director in charge of Supervision at Bank of Uganda, Justine Bagyenda reportedly took a sole decision to sell Global Trust Bank (GTB) to dfcu bank in 2014. COSASE is currently probing BoU officials
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The health of Uganda’s Private Sector continues to improve on the back of a rise in output in several sectors of the economy. This is according to the Stanbic Purchasing Managers’ Index for the month of November which recorded at 55.7 above the 50.0 reading signaling improvement in business conditions.
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The Bank of Uganda (BoU) has decried continued government borrowing from domestic banks, a thing that is crowding out private sector. The remarks were made by Prof. Emmanuel Tumusiime-Mutebile, the BoU Governor on Wednesday while issuing the Monetary Policy Statement for December 2018. Mutebile said the BoU’s Composite Index Economic
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The Bank of Uganda woes continues to deepen. The latest is that the Committee of Commissions Statutory Authorities and State Enterprises (COSASE) is investigating into the possibility that some of the staff at the Central Bank who had been hired to oversee the liquidation of some of the closed Banks
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MPs sitting on the Committee of Commissions, Statutory Authorities and State Enterprises (COSASE) on Monday rejected a request by former Bank of Uganda Executive Director in charge Supervision, Justine Bagyenda to have her two aides who were arrested last year released. Last week, COSASE handed over two Bagyenda aides; Juliet
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Bank of Uganda officials have told Parliament's Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) that they cannot trace the offices or address of Kirkland Associates, a law firm that they hired for consultancy services during the process of selling seven defunct banks. They made this revelation on Monday while
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The embattled former Bank of Uganda Executive Director in charge of Supervision, Justine Bagyenda has Monday morning appeared at Parliament to face the Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) that is probing BoU officials over the controversial closure of seven commercial banks. Bagyenda is accused of conniving
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Shares of Rwanda’s largest lender by assets, Bank of Kigali (BK) Group Plc, started trading on the Nairobi Securities Exchange (NSE) on Friday, the Daily Nation reports. It becomes the second company to cross-list on the Nairobi bourse after Uganda’s Umeme in December 2012. The BK Group’s shares, whose primary
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Uganda’s Central Bank is yet to formally revoke licenses of seven defunct banks that were controversially closed 20 years since the first bank was closed in closed in 1993. Appearing before the Committee of Commissions, Statutory Authorities and State Enterprises (COSASE) on Friday, Margaret Kagwa, Legal Counsel, Bank of Uganda
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Two aides to former Executive Director, Banking Supervision Bank of Uganda, Justine Bagyenda were on Thursday arrested by the Parliamentary Committee on Commissions Statutory Authorities and State Enterprises (COSASE. They were handed over to Parliament Police CID for further investigations over suspected crucial documents stolen from the Central Bank. The
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