The Bank of Uganda (BoU) Governor Prof. Emmanuel Tumusiime-Mutebile has revealed fresh details on the collapse of Crane Bank, the then 4th largest bank by assets in Uganda. Addressing bankers at an informal dinner held at Serena Hotel, Kampala on August10, 2017, Mutebile began by saying that much of the
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The banking sector and the legal fraternity in Uganda are mourning the untimely death of Ecobank Uganda Ltd long serving Head Legal & Company Secretary. Annette Mwiriza Mukunda, wife to Julius Mukunda breathed her last on Thursday in India. She was battling Cervical Cancer. “Death has robbed us of our
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Justine Bagyenda, the Executive Director Supervision-Commercial Banking at Bank of Uganda (BoU) has spoken out on the state of Uganda’s banking sector following the collapse of Crane Bank that has been in the news since late last year. “The banking sector is strong and resilient,” Bagyenda said. She made the
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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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