Banking

The Auditor General (AG) has rejected a request from Deputy Governor Bank of Uganda, Dr. Louis Kasekende to carry a fresh inquest on the Shs478 billion the Central Bank is reported to have injected into Crane Bank after the takeover. Responding to Kasekende’s letter dated March 11, 2019 requesting the

The Inspector General of Government, Justice Irene Mulyagonja has cleared the Deputy Governor, Bank of Uganda (BoU) Dr. Louis Kasekende and the former Executive Director, Banking Supervision (BoU), Justine Bagyenda (in featured photo) have been cleared of illicit accumulation of wealth after investigations revealed that the wealth of the two

The Bank of Uganda (BoU) has said economic activity seems to be softening, something that could negatively affect the projected economic growth. The economy is projected to grow at around 6-6.5% in 2019/20. However, BoU’s Composite Index of Economic Activity (CIEA) and other high frequency indicators of economic activity point

Uganda's Central Bank has agreed to refund the money moneybags, Sudhir Ruparelia deposited in forex bureaus. Sudhir had accused the Central Bank of holding onto the money in question in a bid to coerce him into negotiating a case where he is accused of purportedly causing the collapse of Crane

The Bank of Uganda (BoU) Governor, Prof. Emmanuel Tumusiime-Mutebile has expressed concern over the high interest rates charged by commercial banks even when the Central Bank Rate (CBR), a benchmark lending rate for the banks has been below 10% for a long time. Currently, the average lending rate charged by

dfcu Bank has today joined Uganda Red Cross Society in partnership with the Ministry of Education and Sports to launch a campaign dubbed ‘Keep a Girl in school’ that will enable thousands of school going girls gain access to knowledge and support in ‘Menstrual Hygiene Management’. This was unveiled at

A prominent businessman in Kabale town has won a suit against Centenary Rural Development Bank-CERUDEB for impounding his property, URN reports. In May 2018, Moses Sunday obtained a loan of Shillings 25 million to increase stock in his business.  He staked his Canter vehicle registration number UAY 115A and house

Stanbic Bank has released its full year financial results for 2018 indicating strong and solid performance. The bank recorded Shs215bn net profit in 2018, up from Shs200bn in 2017. This represents a growth of 7.3%. Announcing the results at Serena Hotel, Kampala on Thursday morning, Patrick Mweheire (in featured photo),

dfcu bank recorded Shs61.7bn net profit in 2018, down from Shs127.6bn profit posted in 2017, Business Focus reports. According to the bank’s financial statements for the year ended December 2018 obtained by this Business website, the reduction in profit is largely attributed to slowed growth in some of the key