Washington, United States | AFP | The International Monetary Fund warned Tuesday that central banks are struggling to beat back deflationary forces and that governments need to spend to help them succeed. In a new assessment of global economic conditions, the IMF said many countries worldwide are battling disinflation …
Read More »Minister Kibuule under fire after bank incident, responds to accusations
Women activists under their umbrella body the Uganda Women Network (UWONET) have demanded the resignation of State Minister for Water Ronald Kibuule for allegedly assaulting a bank female security officer who attempted to search him. Ronald Kibuule has denied the allegations, saying that all he did was caution the guard. He …
Read More »Rising bank prime lending rates
By Enock Twinoburyo High interest rates indicative of Uganda’s unsustainable economic fundamental weaknesses I recently received a notification from my bank increasing the prime lending rate from 23.5% to 26.5% applicable to both the existing and new borrowers. This also implies that majority of the borrowers, who are not the …
Read More »Bank systems leave homes unwanted
By Eriasa S. Mukiibi Real estate developers want banks to change mortgage rules Joseph Kironde’s house in Kansanga, an up-market residential suburb of Kampala, looks somewhat misplaced amid the storied multi-roomed properties behind high wall fences and fancy gates. Kironde’s house is a four-roomed affair, with whitewashed walls, sitting on …
Read More »Bank of Uganda plans to issue Shs2000 note
By Patrick Kagenda Bank also plans to make all notes the same size and with similar features A senior source in government has told The Independent that Bank of Uganda is introducing a Shs2000 currency note soon. The source said the new note is part of a plan by the …
Read More »PTA bank president explains bond offer
By Patrick Kagenda The PTA bank last week raised Shs 8.5 Bn in the first tranche of its Shs 40Bn bond issued on the Ugandan market. Dr. Michael Gondwe, the PTA bank president explains its strategy. How do you rate the performance of your bond? The bond took quite a …
Read More »Equity Bank faces suspension at NSE
By Independent Team & Agencies Equity Bank survived being locked out of the Nairobi stock Exchange after two regulators battled over an attempt to suspend its custodial license for two weeks over alleged breach of regulations. Equity’s suspension resulted from the bank failing to pay the Central Depository Settlement Corporation …
Read More »Robbed by the ‘bank’
By Patrick Kagenda & John Njoroge Weak company law fails to protect the poor and gullible from fake saving schemes To Gauda Tushabomwe, it seemed like a brilliant way to invest her money. Tushabomwe, at the time an accountant with Kabale Diocese, was introduced to a microfinance organisation called COWE …
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