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Tag Archives: bank of uganda

BoU opposes gov’t proposal to borrow from domestic market

Kampala, Uganda |  THE INDEPENDENT | The Central Bank has rejected the Government’s plan to borrow up to 4.3 trillion Shillings from the domestic market to fund the supplementary budget expenditure of 6.5 trillion Shillings.  The matter came up when officials from BoU, the Private Sector Foundation and Uganda Bankers Association …

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Ham, DTB bank judgment to impact credit availability– Dr. Muhumuza

Kampala, Uganda | THE INDEPENDENT | The Commercial Court judgment against Diamond Trust Bank-DTB will have wider repercussions across the entire economy in terms of the cost of credit. On Wednesday, the Head of the Commercial Court, Justice Henry Peter Adonyo ruled that the credit facilities DTB-Kenya offered to local businessman, …

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BoU hands over renovated ward, equipment to Ayivui HC III

Arua, Uganda | THE INDEPENDENT | Ayivui health center III in Arua city has received a newly refurbished maternity ward and medical equipment valued at over Shillings 100 million. The ward was renovated and equipped by the Bank of Uganda under its social corporate responsibility to promote professional health care services …

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Small banks pay higher interest to savers

Kampala, Uganda | THE INDEPENDENT | Saving with a smaller bank earns you a better return than you would get with glamorous bigger banks, analysis of the latest Bank of Uganda data compilation shows. The data which shows what the banks pay you and charge you shows that commercial banks outside …

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BoU lists banks with lowest lending rates on loans

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has named commercial banks charged borrowers lowest rates between January and June 2020, effectively making them the cheapest lenders for debtors to run to. Absa bank, Baroda, Bank of India, Citibank, Ecobank, NC Bank, Stanbic Bank, Standard Chartered Bank, United Bank of …

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Uganda’s foreign exchange reserve stands at 3.9 bln USD

Kampala, Uganda | XINHUA | Uganda’s stock of foreign exchange reserves at end of June 2020 stood at 3.9 billion U.S. dollars, which is equivalent to 5.2 months of future imports of goods and services, the country’s central bank has said. Adam Mugume, executive director of research Bank of Uganda told …

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BOU: Ugandans fearing to spend their money

Kampala, Uganda |  THE INDEPENDENT | Ugandans are expected to hold onto their money for longer compared to pre-coronavirus days as many suspend spending due to insecurity of what the future holds, Bank of Uganda has said. BOU Governor Emmanuel Tumusiime-Mutebile said on Monday that many consumers are expected to be …

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Cross-border informal exports fall by 99%

Kampala, Uganda | THE INDEPENDENT | Small-scale traders operating around Ugandan borders have suffered one of the biggest tumbles with coronavirus bringing their operations to near zero, official figures show. The scale of the impact is shown in the figures compiled by the Bank of Uganda in March, April and …

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