The Auditor General (AG) is set to carry out a comprehensive audit on Bank of Uganda (BoU) over the liquidation of defunct banks in the country. This is after Parliament Committee on Commissions, Statutory Authority and State Enterprise (COSASE) on Tuesday asked the AG to do the audits and report
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Mystery surrounds the recovery of part of the KSh50 million (about UShs1.8bn) stolen from Kenya Commercial Bank’s (KCB) Thika town branch in Kenya last Monday. Witnesses said police seized the cash following a Saturday morning raid on a house in Juja town, where a woman had moved in last Wednesday,
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The Finance Committee of Parliament has tasked Housing Finance Bank to offer thorough justification for a Shs61bn capitalization request from government. The government, with 49.18 percent shares, owns the bank jointly with National Social Security Fund -NSSF (50 percent) and the National Housing and Construction Company (0.82 percent). State Minister
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The 25th Joseph Mubiru Memorial Lecture will be held on December 01, 2017 and will be delivered by Dr. Ha-Joon Chang, a University Reader in Political Economy of Development, in the Faculty of Economics at the University of Cambridge. The lecture is titled; “Ambition, Pragmatism, and Imagination – Rethinking the
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This is not a movie but a real life story. How burglars managed to disable internal alarms and sensors of one of KCB’s branches in Kenya and made off with an estimated KShs50m (UShs1.75bn) remains a puzzle. The Standard reports that burglars accessed KCB Thika Branch on Sunday, November 19
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Bank of Uganda (BoU) officials were Tuesday quizzed on why the Central Bank continues to pay billions of tax payers’ money to external lawyers despite having a legal department with one of the best lawyers in the country. The officials led by BoU Deputy Governor, Dr. Louis Kasekende had appeared
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The 2017 version of Ecobank Group Research’s Fixed Income, Currency and Commodities (FICC) Guidebook, which provides expert knowledge and analysis on African markets for investors and businesses, was launched today at AfricaFICC. Indicating a positive outlook for the continent, three key trends are forecast to take hold during the next
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The Bank of Uganda (BoU) has spent a whopping Shs6.5bn on external lawyers, Business Focus reveals. BoU mainly uses Timothy Masembe Kanyerezi of MMAKS Advocates and David Mpanga from AF Mpanga and Company Advocates as external lawyers to handle its legal cases. [caption id="attachment_4189" align="aligncenter" width="300"] Timothy Masembe[/caption] Business Focus
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By Aloysious Kasoma Equity Bank Uganda has unveiled city comedian and actor cum radio presenter Patriko Mujuuka as brand Ambassador. Addressing the press at the Bank’s Supreme branch along Buganda road in Kampala on Wednesday, Anthony Kituuka, the Equity Bank Uganda Executive Director, said that Mujuuka appeals to all types
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Standard Chartered Bank Kenya Ltd (SCBKL) has issued a profit warning for the full year ending December 2017, citing the effects a cap on interest rates imposed a year ago and unpaid loans in a sluggish economy, reports Business Daily. “SCBKL projects that net earnings for the year ending December
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