The Bank of Uganda (BoU) has in the April 2020 Monetary Policy Committee (MPC) meeting reduced the Central Bank Rate (CBR) by 1 percentage point to 8 percent, up from 9%. The CBR is a benchmark lending rate for commercial banks. In the Monetary Policy Statement for April issued this
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The Bank of Uganda is expected to issue the Monetary Policy Statement for the month of April tomorrow 3rd 2020. In February 2020, the Central Bank kept the Central Bank Rate (CBR), a key lending rate for commercial banks, unchanged at 9%. According to Stephen Kaboyo (pictured), an analyst and
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dfcu Limited Tuesday released its 2019 consolidated financial results revealing a 21% growth in profitability from Shs60. 9bn in 2018 up to Shs73.4bn in 2019. This was mainly driven by significant increase in efficiency and cost management. Operating expenses reduced by 4% from Shs202.2billion to Shs193.1billion showing improved operating efficiency.
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United Bank for Africa (UBA) Uganda on Monday made a donation of five hundred and seventy million shillings (UGX 570M) to the Government of Uganda as support towards the fight against the coronavirus (COVID-19) global pandemic. The donation was made to the President of Uganda, Yoweri K. Museveni by the
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The Board of Bank of Uganda (BoU)Friday appointed Dr. Adam Mugume (pictured the Deputy Governor of BoU- in acting capacity, pending President Museveni’s decision to appoint a substitutivea deputy governor. Mugume has been Executive Director of Research for the Central Bank. The position fell vacant about three months ago after
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Ecobank Uganda has received two prestigious International Organization for Standardization (ISO) certificates, Business Focus reports. These ISO certifications from the British Standards Institution (BSI) give Ecobank Uganda a competitive advantage and publicly demonstrate the bank’s legal and regulatory compliance and commitment to the prevention or reduction of large-scale process disruptions
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United Bank for Africa Plc (UBA) today announced a donation of over USD 14 million, through the UBA Foundation, to catalyse a comprehensive Pan-African response to the fight against the coronavirus (COVID-19) global pandemic. The donation will provide significant and much needed support to Nigeria and 19 other African countries,
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The Bank of Uganda (BoU) has ordered commercial banks to defer dividends and bonuses in light of the COVID-19 impact on the economy, Business Focus has exclusively learnt. This is aimed at keeping financial institutions liquid and the economy afloat during this difficult period. This means that shareholders are likely
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Stanbic Bank posted an impressive Shs259bn Profit After Tax in 2019, up from Shs215bn recorded in 2018. This represents an increment of 20%. Patrick Mweheire (pictured), who was the Chief Executive for both Stanbic Uganda Holdings and Stanbic Bank Uganda (SBU) for 2019, also saw loans advanced to customers increase
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The Kampala Central MP, Muhammad Nsereko has called for relaxation on payment of loans, rent and utilities to Ugandan business community cope with effects of the deadly COVID-19 aka Coronavirus. Nsereko (pictured) made the call today while addressing journalists at Parliament where he urged the public to take the global
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