The Bank of Uganda (BoU) has maintained the Central Bank Rate (CBR), a benchmark lending rate for commercial banks at 10% on account of low inflation levels and a boost in economic activity. Annual headline inflation declined to 5.7% in July 2017, down from 6.4% in June 2017 due to
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The Bank of Uganda (BoU) is expected to reduce its Central Bank Rate (CBR), a benchmark lending rate for commercial banks tomorrow August11, 2017. In June, BoU eased the monetary policy to 10%, down from 11% in April, 2017 as a result of subdued inflationary pressures and weak growth prospects.
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Real estate mogul Sudhir Ruparelia has turned down mediation talks with Bank of Uganda (BoU) over the collapse of Crane Bank. The High Court had asked BoU and Sudhir to settle the case out of Court (through mediation), but the latter has rejected the mediation plans, arguing that BoU which
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Uganda’s economic recovery may take a little longer going by the rate at which private sector credit is growing. Latest statistics from Bank of Uganda (BoU) and Ministry of Finance, Planning and Economic Development indicate that lending to the private sector has been subdued since 2017 started despite easing in
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Bank of Uganda (BoU) has denied reports that it is hiding Shs10bn in a secret account in Germany. In a press statement issued Monday morning, BoU Communications Director, Christine Alupo, describes the reports as misrepresentation "of the information that was provided in the testimony by the Bank of Uganda (BoU)
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KCB has announced that it will pay its investors an interim dividend amounting to Ksh3 billion (about UShs104.3b). This will see every shareholder get Ksh1 (UShs34.78) for each share they hold in the bank. This follows the half year financial results which saw the lender post Ksh10.26 billion (UShs356.8bn) net
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The Bank of Uganda (BoU) has clarified on the alleged funds the Central Bank ‘hid’ in a ‘secret’ foreign account. In a statement issued on Sunday, Christine B. Alupo, the Director Communications at BoU said that the alleged information is erroneous and misleading. Below is BoU’s full statement: There have
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Embattled tycoon Sudhir Ruparelia has revealed how Bank of Uganda that is headed by Prof. Emmanuel Tumusiime-Mutebile as Governor betrayed him. This shocking revelation is contained in Sudhir’s defense and a leaked document showing the understanding BoU and Crane bank (in receivership) had reached with arguably Uganda’s richest man. [caption
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Embattled tycoon Sudhir Ruparelia has filed his defense on fraud related cases brought against him by the Bank of Uganda (BoU). This follows BoU’s decision to sue Sudhir, the founder and shareholder of the defunct Crane Bank and his investments firm Meera Investments Ltd on June 30 to recover about
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Equity Bank has started closing some of its automated teller machines (ATMs) as the lender shifts customers to alternative channels such as agency and mobile banking in a fresh cost-cutting strategy, Business Daily Africa reports. Kenya’s biggest bank by customer numbers told the Business Daily it has so far closed
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