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Gov’t To Borrow Shs10.3 Trillion As Debt To GDP Ratio Rises To Record 51%

BusinessFocus Reporter April 26, 2021April 26, 20210

Finance Minister, Matia Kasaija Uganda’s public debt is projected to grow to over Shs70 trillion in the Financial Year 2021/2022 thanks to increasing borrowing to fight COVID-19 and fund infrastructural projects. In 2021/22 FY, a total of Shs10.3 trillion is projected as external financing, of which Shs6.7 trillion is in form

Banking

Banking: Customer Deposits Grew By 17% To Shs26.8 Trillion In 2020

Taddewo William Senyonyi March 20, 2021March 20, 20210

Commercial banks registered strong growth in customer deposits of 17.1 percent from USh22.9 trillion in 2019 to USh26.8 trillion over the year ended December 2020 in spite of the slow pace of economic recovery. This revelation is contained in Bank of Uganda’s Quarterly Financial Stability Review December 2020 released in March 2021. “Most of this increase

Banking

BoU Seeks More Time on Proposed Constitutional Amendments

BusinessFocus Reporter March 2, 2021March 2, 20210

Deputy Governor Bank of Uganda (BoU), Michael Atingi-Ego The Deputy Governor Bank of Uganda (BoU), Michael Atingi-Ego has asked parliament for more time to present the institution’s opinion on the proposed amendments to Article 161 of the Constitution regarding the composition of the Central Bank's board and others, URN reports.Atingi-Ego

Banking

Banks Expect Lending Rates To Remain High As Restructured Loans Hit Shs7.9 Trillion

Taddewo William Senyonyi March 1, 2021March 1, 20210

Majority of the banks expect their lending rates to remain broadly unchanged with a bias towards decrease, reflecting a relatively lower Central Bank Rate (CBR), the Bank Lending Survey(BLS) has revealed. According to Bank of Uganda (BoU’s Monetary Policy Report ) for February 2021, commercial banks’ lending rate on Shilling loans averaged

Banking News

MPs Query Move To Impose Term Limits On Only BoU Deputy Governor

BusinessFocus Reporter February 25, 2021February 25, 20210

MPs on the Parliamentary Legal Committee have questioned a proposal by Igara East lawmaker, Micheal Mawanda (pictured) to impose office term limits only on the office of the Bank of Uganda Deputy Governor while leaving out the office of the Governor. In the new amendments in the Private Member’s Bill, Mawanda proposes

Analysis & Opinions

ANALYSIS: Why Uganda’s Desired Economic Growth Will Be Hard To Achieve

BusinessFocus Reporter February 20, 2021February 20, 20210

The recovery of the Ugandan economy to the desired levels will depend on many factors, most of them beyond the country’s control according to experts and the private sector. These factors include the rebound in the export sector, the developments in oil sector, the universal availability of the Covid-19 pandemic