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Jan 43 results
17:34
17:34

Parliament Queries Continuous BoU Recapitalization Bank of Uganda 4 1

While scrutinising the Budget Framework Paper for the 2021/2022 financial year, MPs queried the allocation of another Shillings 481 billion towards the recapitalization of Bank of Uganda (BoU) for the second consecutive year.
19:29
19:29

Banks Disbursed Loans Worth UGX 2.2 Trillion Between July and September 2020 Bank of Uganda 1

The Pre-Election Economic and Fiscal Update issued by Moses Kaggwa, the Acting Director Economic Affairs says that the approved and disbursed loans led to a cumulative stock of 17.221 trillion in September, 2020.
07:36
07:36

Banks Restructured Loans Worth UGX 6.7 Trillion Due to Covid-19 -Report Bank of Uganda 1

Bank of Uganda in April 2020 granted permission to all banking institutions to provide credit relief through the restructuring of loans of both corporate and individual customers who were or would be affected by the COVID-19 pandemic.
16:32
16:32

Banks Make UGX 874Bn Profits During Lockdown Bank of Uganda 1

According to the Central Bank Quarterly Financial Stability Review report, the Banking Sector remained adequately capitalized to absorb emerging shocks and that the capital increase was largely boosted by an improvement in aggregate profitability.
07:12
07:12

BoU Opposes Gov’t Proposal to Borrow from Domestic Market COVID-19 1 4 Top story

Domestic Borrowing is done through the issuance of government securities like treasury bills which are short term debt instruments with tenures ranging from 91, 182 and 364 days and treasury bonds with a maturity period of more than a year.
12:05
12:05

BoU Hands Over Renovated Ward, Equipment to Ayivui HC III maternity ward 3 5

Suzan Kanyemibwa, the BoU Secretary and Head of Corporate Affairs says they chose to Focus on the health sector in this particular drive in order to ensure a healthy population, which is the backbone of economic productivity.
12:34
12:34

Uganda Gold Exports Surge Again gold exports uganda 1 Top story

According to data provided by Bank of Uganda, the country shipped 3,012 kilograms of gold, a surge from the 2,470 kilograms in May and 1,180 kilograms exported in April. The volumes were even lower in February and March 2020. A lot of this gold went to the United Arab Emirates (UAE).
12:47
12:47

Ugandans Hold UGX 8.5 Trillion in Fixed Deposits– BOU Bank of Uganda 1

Bank of Uganda data shows that in May 2020, the amount of Ugandans have in banks as term deposits reached 8.5trillion shillings, the highest amount ever held there in a single month.
18:40
18:40

Cross-Border Informal Exports Fall 99% – Official Figures UNCTAD 1

BOU says earnings from cross border trade dropped from USD 52 million (193.5 billion Shillings) in March 2020 to just USD 59,000 (219 million Shillings) at the end of May 2020. The main reason for the fall is that while those in formal-trade are being tested for Coronavirus Disease and cleared to keep taking out or bringing in goods, the informal traders don’t have this luxury and are stranded at home
11:24
11:24

Non-Performing Loans Jump to UGX 783billion – BOU Bank of Uganda 1

This trend, BOU says, has been observed since March 2019, a year before the coronavirus troubles came in. This means long before lockdown, many businesses and individuals were struggling to thrive.
15:04
15:04

How Sudhir Defeated BoU to Retain Crane Branches Bank of Uganda 1 1

The court found that Crane Bank majority shareholder were non-Ugandans based in Mauritius who under the land Uganda were not legible to holding freehold registered land.
17:27
17:27

BoU Warns Against Borrowing as Public Debt Hits UGX 53 Trillion Bank of Uganda 1 1 Top story

BoU Governor Emmanuel Tumusiime Mutebile issued the warning on Thursday while appearing before Parliament’s National Economy Committee, where he was summoned to discuss the impact of the COVID-19 pandemic on the economy.
14:29
14:29

Bank of Uganda Further Cuts Growth Forecast to 2% 1

BoU Governor Emmanuel Tumusiime-Mutebile said even this growth will depend on how the economy is opened up from the lockdown imposed to stem the spread of coronavirus disease. It would also depend on how the public will comply with the social distancing rules to ensure cases don’t surge again calling for more lockdown, Mutebile said
11:42
11:42

Investors Fled Country as Uganda Started COVID-19 Measures -BOU Bank of Uganda 1 Top story

In just one month between February and March 6, 2020, investors withdrew at least 165 billion Shillings from the country. Of this, at least 59 billion Shillings was in government securities, while 105.7 billion Shillings had been placed in commercial banks in the country as deposits.
14:40
14:40

Court Dismisses Jaffery Forex Bureau Suit Against BoU Musa Ssekaana 1 Top story

The lawyers led by Faisal Mularila and Alvin Jabbo noted that the decision to revoke the company's license stemmed from allegations by Bank of Africa against the bureau for alleged involvement in illicit transactions, which caused the bank a loss of colossal sums of money.
11:05
11:05

Interest on Loans Will Still Count During Payment Holiday – BOU interest rate 1

Speaking through a webinar with the Rotary Club of Kampala South on Monday evening, Dr Tumubwine Twinemanzi, the BOU executive director for supervision, said banks have to earn interest on that money they lent out even when payments are frozen during the coronavirus crisis.
08:00
08:00

Tropical Bank Owners Have Injected in Capital -BoU libya 1

In the audited accounts for 2019, it was revealed that the bank had been undercapitalized up to a tune of 3.8 billion Shillings. This means Tropical had only 21.2 billion Shillings of the 25 billion minimum capital required.
17:09
17:09

Tropical Bank Makes UGX 24bn Loss, Becomes Under-capitalized libya 1

According to KPMG, an audit firm that audited the bank’s accounts, Tropical bank’s situation points to "significant doubt on Tropical bank Limited’s ability to continue as a going concern”
15:25
15:25

Export Earnings Drop By UGX 4.1 Trillion – BOU Bank of Uganda 1

BOU reports that there has also been a decline in exports to the regional markets, which have been Uganda’s key destination for most goods. Here, one key culprits have been milk and sugar which saw the heaviest decline due to trade disputes with Kenya and Tanzania. A drop in the prices of milk saw Kenya stop Uganda’s milk – especially Lato Milk – to help depressed prices at home.
15:49
15:49

Parliament Approves New Deputy Governor Dr. Atingi-Ego DPP 2 1

Parliament's Appointment Committee has approved the appointment of Dr. Michael Atingi-Ego as new Central Bank Deputy Governor.
Jan 43 results