Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has refuted claims that its tough regulatory requirements are leading its regulated financial institutions to downgrade to ease the regulatory pressures on them. This comes as the regulator (BoU) notified the public that three commercial banks (Tier I) had been downgraded …
Read More »Governor Atingi-Ego steps out of Mutebile’s shadow
Analysts say new BoU boss has done well so far Kampala, Uganda | IAN KATUSIIME | After steering the Central Bank for two years in acting capacity since then Governor Emmanuel Tumusiime Mutebile passed on in January 2022, Michael Atingi-Ego has been receiving positive ratings in monetary policy circles. Michael Atingi-Ego …
Read More »Bank of Uganda lowers CB rate for first time in 2 years
Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has lowered the Central Bank Rate (CBR) to 9.5 percent, an indicator of its intention to bring down the cost of credit, for the first time since June 2021. The rate, which the Monetary Policy Committee uses to influence interest …
Read More »BOU: Uganda financial sector robust, to survive World Bank blacklist
Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has assured the banking and financial industry that it will ensure its stability and the sustainability of the microeconomics of the country amidst the withdrawal of the World Bank from new loan deals. The World Bank decision communicated last week …
Read More »BOU: Atingi-Ego signed Uganda currency banknotes genuine
BOU clarifies that currency notes bearing Dep Governor’s signature are genuine Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has clarified on the Deputy Governor’s signature on currency notes, allaying fears that the notes could be fake. Since last month, pictures of currency notes bearing the signature of Dr …
Read More »Saving for bad times
Earn it, keep it and sustain it Kampala, Uganda | THE INDEPENDENT | The current fragile economic situation is an opportunity for people and businesses to embrace a saving culture to be able to sustain growth of their enterprises and social wellbeing, financial sector experts have said. “Earn it, keep it …
Read More »Accountants told to explore FinTech opportunities
But Africa remains the most concerned region about consumer protection and cybersecurity risks | THE INDEPENDENT | Accountants now need to take advantage of the possibilities that come with FinTech given that the latter provides products that are solving actual problems, according to the Bank of Uganda Deputy Governor Michael …
Read More »Tough times ahead as inflation rises to 9%
This is the 6th straight month it is rising causing anxiety in the interest rate market Kampala, Uganda | JULIUS BUSINGE | Inflation, as measured by the Consumer Price Index for Uganda for the 12 months to August 2022, increased to 9.0%, up from 7.9% registered in July 2022, according …
Read More »Dfcu, DTB deliver solid H1 profits, but uncertainty remains
BoU raised policy rate for a third straight time in a row signaling boost to interest rates | THE INDEPENDENT | Dfcu and DTB have recorded a surprise profit for the first six months of the year but the uncertainty remains ahead due to the prevailing tough economic times. Dfcu …
Read More »Inaugural Financial Inclusion forum
BoU Deputy Governor urges financial sector players to leverage digitization to kindle demand for financial services | THE INDEPENDENT | How can we leverage advancements in digitalization to spark the demand for financial services by people at the bottom of the pyramid, and thus increase access to and usage of …
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