Mobile money transactions hit a record Shs113.38Trn in Financial Year 2020/21, the Bank of Uganda 2021 Annual report has revealed. The Central Bank Governor Prof. Emmanuel Tumusiime-Mutebile says that in accordance with the provisions of the National Payment Systems Act 2020, each of the companies received a Payment Systems Operator (large funds transfer)
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The Executive Director of Uganda Bankers’ Association (UBA), Wilbrod Humphreys Owor says that the total direct school loan portfolio is currently 1.3 trillion Shillings and this includes institutional and personal loans and the accumulated interest. He adds that their records also indicate another 600 billion debt under private sector institutions
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Wilbrod Owor, Executive Director UBA Commercial banks under their umbrella body, Uganda Bankers Association (UBA) have warned Ugandans against asking financial institutions to write off loans incurred by private school owners, saying pressure should be put on Government to set up a medium term education sector recovery fund of USD300Million equivalent to
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Value of loan approvals fell to Shs2.26 trillion in the quarter to August 2021 from Shs2.36 tn in the quarter to May 2021 as lenders exerted caution driven by lockdown measures. This is contained in the Bank of Uganda (BoU) Monetary Policy Report for October 202. The report adds that
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Mogas petrol station/ courtesy photo Stanbic Bank Uganda has taken control of petroleum products distributor MOGAS, after the latter reportedly failed to pay back a three-year loan. The bank immediately put the company, whose full name is: Maestrol Oil and Gas Solutions under receivership to recover its money. Non of
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Kumaran Pather, the Managing Director / CEO of Orient Bank Limited Subsequent to finalisation of the share acquisition transaction, I&M Group has announced plans to rebrand its newly acquired business in Uganda, Orient Bank Ltd to I&M Bank (Uganda) Limited. I&M Group PLC’s acquisition of 90% shareholding in Uganda’s Orient Bank
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L-R: MPS Michael Mawanda (Igara East) and Christine Sendawula (Kyankwanzi DWR) appearing before Education Committee Owners of private schools have asked Government to set up a revolving fund worth Shs5000bn by December 2021 from which they can draw money to facilitate the reopening of schools in January 2022. Michael Mawanda (Igara East)
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Businessman Sudhir Ruparelia The controversy between Crane Bank and Bank of Uganda seems to be coming to an end after businessman Sudhir Ruparelia secured an injunction against the Bank of Uganda’s move to place Crane Bank (in receivership) under liquidation. The courts also barred the Central Bank from continuing with
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Balyokwayibwe’s car in front of his gate A 68-year-old retired banker and his wife are stranded after being thrown out of their home by a money lender. Francis William Balyokwayibwe was a manager at Stanbic Bank by the time he retired 16-years ago after a 28-year career that
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dfcu Bank's CEO, Mathias Katamba (3rd right) joins the sponsoring partners of the 2021 Uganda Top 100 mid-sized companies’ survey to officially launch the initiative. The Uganda Top 100 mid-sized companies’ survey 2021 was launched yesterday October 06, 2021 at a press conference at Sheraton Hotel Rwenzori Ball Room. The
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