Tag Archives: bank of uganda

Kampala, Uganda | THE INDEPENDENT | The use of digital payment systems in Uganda has grown considerably both for mobile money service providers and banks for the year that ended in June, a new report by the central bank said Friday. The demand for digital payment services was mainly driven by …

Kampala, Uganda | THE INDEPENDENT | The banking industry has defended its changing mode of operation which sections of the public describe as less friendly, saying they have learnt from the effects of global shocks on the businesses and economies generally. In recent times, Bank of Uganda has compelled commercial banks …

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 …

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 …

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 …

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 …

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 …

Kampala, Uganda | THE INDEPENDENT | The Uganda Shilling continues its downward trend against the US dollar more than two months since its appreciation journey against the dollar was halted. It has since depreciated by more than 200 shillings. The official foreign exchange rate by the Bank of Uganda put the …

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda insists its not yet safe enough for the banking industry to start paying dividends to their shareholders, two years since this was suspended. Following the outbreak of COVID-19 in 2020, the banking industry was given guidelines to survive the pandemic, and …

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 …