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Tag Archives: bank of uganda

BoU grants licence to Xente tech as Payment Systems Operator

Kampala, Uganda | THE INDEPENDENT | Xente Tech Ltd, a financial technology platform that simplifies payments and finance for businesses, has obtained the Payment Systems Operator (PSO) license from Bank of Uganda. The National Payment System Act-2020, implemented under the National Payment Systems Regulations, seeks to drive digitization of Ugandan entities as …

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Shilling depreciation not easing soon: Experts

Kampala, Uganda | THE INDEPENDENT | The Uganda shilling continues to depreciate against the US dollar as both local and external factors exert pressure on the local and other emerging currency markets. For more than a week, the shilling has just stayed short of touching the 3,900 level against the dollar, amidst …

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BOU cautions against cyber fraud as NSSF launches smart card

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has tasked the National Social Security Fund-NSSF to ensure there are no cases of cyber fraud as the fund launches a three-in-one social security smart card. With the card, the fund’s qualified members will be able to directly withdraw their NSSF …

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Central bank raises key rate to curb inflation

Kampala, Uganda | THE INDEPENDENT | The Central bank on Thursday announced that it was increasing the Central Bank Rate (CBR) to 7.5 percent from 6.5 percent to control the rising inflation. In a statement issued, the Bank of Uganda said it will continue to raise the CBR until inflation is …

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Burial of former BoU governor Gideon Nkojo set for next month

Kabarole, Uganda | THE INDEPENDENT | The burial of the former governor Bank of Uganda, Gideon Nkojo has been set for next month. Nkojo died in November 2020 in Virginia, USA after being ill. Family members immediately started arranging for the return of the body back home to its resting place …

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Stanbic Bank meet exposes deals for schools

Kampala, Uganda | THE INDEPENDENT | Stanbic Bank Uganda has taken bold steps to support parents, teachers and schools as learners settle in class after nearly two years of education sector closure. Speaking at a recent virtual forum titled ‘Bank of Uganda address on credit relief measures for school loans’ organized …

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Mutebile’s demise does not affect status of banknotes: BOU

Kampala, Uganda | THE INDEPENDENT | The demise of Prof. Emmanuel Mutebile Tumusiime, the late Governor of Bank of Uganda doesn’t affect banknotes bearing his signature, the central bank has clarified. “The change of the office bearer or the demise of the person who signed banknotes as Governor does not in …

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