Frankfurt, Germany | Xinhua | The Euro on Wednesday briefly slipped below parity against the U.S. dollar in intraday trading after data released by the U.S. Department of Labor showed that the Consumer Price Index (CPI) surged 9.1 percent from a year ago in June. The exchange rate on Wednesday plunged …
Read More »The need for portability of benefits across EAC borders
Kampala, Uganda | THE INDEPENDENT | Since its establishment in 2014, the East African Pension Supervisors Association (EAPSA) has been promoting the pension agenda within the region focusing on mutual cooperation, information sharing, and capacity building among pension supervisory authorities. Key among the issues on the EAPSA agenda is the …
Read More »KACITA calls for reduction of central bank rate
Kampala, Uganda | THE INDEPENDENT | Kampala City Trader’s Association-KACITA has called for the reduction of the Central Bank Rate-CBR, saying it has made borrowing from commercial banks very expensive. CBR is the rate that is used by the Central bank to implement or signal its monetary policy stance. It is …
Read More »Banks target selected sectors amidst growing economic crisis
Kampala, Uganda | THE INDEPENDENT | The banking industry is worried over the rate at which the cost of living in Uganda is rising threatening the recovery of the economy. The Uganda Bureau of Statistics reports that headline inflation steadily increased to 6.8 per cent at the end of June, from …
Read More »Innovation key to the future of the pension sector
Kampala, Uganda | THE INDEPENDENT | Uganda’s Retirement Benefits Sector is yet to expand coverage to all working citizens to enable them save for retirement, with confidence and without coercion. Currently, only 2.8 million Ugandans are covered under a retirement plan, with the majority of them under the mandatory NSSF. …
Read More »Africa’s off-grid solar sector seeks to rebuild after pandemic shock
There are signs of post-pandemic recovery for Africa’s off-grid solar industry. Now it needs to lure back the investors Africa’s off-grid solar power industry is growing but is in urgent need of further support, as the sector struggles to shake off the negative impact of the Covid pandemic on providers of equipment and services, …
Read More »UDB’s 2021 scorecard
Agro-processing, manufacturing and primary agriculture were big determinants for the Bank’s performance | THE INDEPENDENT | Uganda Development Bank, the country’s National Development Finance Institution on July.07 released its 2021 Direct Impact Report highlighting the fundamental role that it continues to play toward Uganda’s sustainable socio-economic transformation and growth. Francis …
Read More »Tough times as BoU moves to restrict money in circulation
Experts back the move but say, the poor will be hit hardest Kampala, Uganda | JULIUS BUSINGE | On July 6, Bank of Uganda held an emergency monetary policy committee meeting and decided to increase the central bank rate (CBR) by one percentage point to 8.5%, the highest since the …
Read More »Chipper Cash celebrates 4th anniversary
Kampala, Uganda | THE INDEPENDENT | To celebrate the Chipper Cash four-year journey in Uganda, the company treated some of its users to a breakfast customer meet at Mestil Hotel Friday. Speaking at the breakfast that had key media personalities Anne Kansiime and Timothy Code as hosts, Dan Tumuramye the Country …
Read More »Include retirement planning in university curriculum – MAK urged
Kampala, Uganda | THE INDEPENDENT | Makerere University should teach students about saving for retirement. The appeal was made by Gautham Bhardwaj the Co-Founder & Director of Pinbox solutions, an international pensions innovation firm while paying a courtesy visit early this week to the University Retirement Benefits Scheme. Bhardwaj noted …
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