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Tag Archives: bank of uganda

BoU forecasts inflation upsurge ahead of general elections

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has forecast a likely rise in prices of goods and services in the months towards the general elections. According to BoU Governor Emmanuel Tumusiime-Mutebile, core inflation, which measures the increases in prices of goods and services less electricity, food and water, will peak …

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Mutebile decries delays in common currency achievement

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda governor Emmanuel Tumusiime-Mutebile has decried the tardiness in hitting key targets to achieve a single currency for the East African Community bloc by 2024. The East African Monetary Union Protocol, signed in 2013, set 2024 as the year to have all …

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Oil exports key for Uganda to handle growing debt – BoU

Kampala, Uganda | THE INDEPENDENT | Uganda’s capacity to manage its growing public debt will depend on the country’s ability to export oil by 2023, a Bank of Uganda June 2019 State of the Economy report has shown. In the report, the Central Bank indicates that Uganda’s public debt stock will …

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Auditor General orders for audit on BoU currency saga

Kampala, Uganda | THE INDEPENDENT | The Director Forensics at Auditor General’s Office James Bantu has commissioned an audit in regards to the Bank of Uganda extra cargo that was loaded on a chartered plane in April this year. It is alleged that around March 1st and April 27th, 2019 …

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Kadaga clears COSASE to probe BoU

Kampala, Uganda | THE INDEPENDENT | The Speaker of Parliament, Rebecca Kadaga has directed the Committee on Commissions, Statutory Authorities and State Enterprises – COSASE to conduct proceedings on issues that were not concluded as pertains matters on the closure of seven commercial banks by Bank of Uganda. The seven …

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Forex bureau sues BoU for revoking license

Kampala, Uganda | THE INDEPENDENT | Jaffery Forex Bureau Limited has sued Bank of Uganda seeking compensation of Shillings 9.5 billion for revoking its license illegally. The Forex Bureau has filed its suit in the Civil Division of High Court through Kinobe Mutyaba Advocates. They are challenging the Central Bank …

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Charged BoU officials leave office

Kampala, Uganda | THE INDEPENDENT | Three Bank of Uganda employees charged in the anti-corruption court over a procurement scandal, have taken leave from office in line with the Public service rules that require a public servant to step aside, in the face of an investigation. The three officials are …

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BoU complained to money printer for breach of contract

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has expressed disappointment with the company contracted to print Ugandan currency over failure to transport cargo on agreed terms. The letters, which reveal the actual agreements between the Central Bank and Oberthur Fiduciare, the company that printed money, indicate that the …

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Mutebile tight-lipped on BOU procurement scam

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda Governor Emmanuel Tumusiime-Mutebile has refused to reveal the amount of money the institution was carrying into the country when extra pellets were discovered on a chartered plane. He also said he was not aware of the police investigations into claims of …

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