Tag Archives: Banking

Kampala, Uganda | GODFREY SSALI |  The Deputy Speaker Jacob Oulanyah has halted a proposed parliament investigation of Bank of Uganda (BOU) in relation to circumstances leading to the closure of Crane Bank. He cited  sub judice. Oulanyah made his ruling Tuesday afternoon after Budadiri East MP Nathan Nandala Mafabi …

Washington, United States | AFP | US regulators on Monday fined French banking giant BNP Paribas $246 million for poor oversight of its foreign exchange traders who manipulated trading prices. The move came six months after the Federal Reserve permanently barred former BNP trader Jason Katz from the banking industry, …

VIDEO: D9 defies Central Bank directive Uganda | NBS TV UGANDA|  D-9, is considered a shadowy multi-level marketing company by many but it has vowed to defy Bank of Uganda’s decision to freeze the company’s bank accounts. They insist they should have been consulted. The company,  largely operating online, says its work …

  Kampala, Uganda | JULIUS BUSINGE |  Bank of Uganda is pessimistic about growth in private sector credit for the last quarter of this financial year. This is the latest bad news suggesting the country is yet to achieve desired economic growth of over 7%. “We are not likely to achieve …

Kampala, Uganda | JULIUS BUSINGE |  Bank of Uganda has today (June 19) announced a reduction of the Central Bank Rate (CBR) by 1 percentage point to 10%. Governor Emmanuel Tumusiime Mutebile made the CBR announcment that sends a signal to the market on the direction of interest rates. This rate, that …

Five employees of Equity Bank – Uganda have been sentenced to jail terms ranging from 5 to 12 years after the Anti-Corruption  Court found them guilty of embezzling sh4.6 billion from their employer. Justice Margaret Tibulya  has sentenced Abubakar  Karungi to 12 years,  David Sserwamba  and Matthew Keeya have been …

EU ambassador in Uganda Schmidt baffled by Trump decision on climate By Independent Reporter and AFP Ambassador Kristian Schmidt, the European Union (EU) Head of Delegation to Uganda, has joined a chorus of world leaders to criticize US President Donald Trump’s decision to withdraw from the Paris climate accord. Many …

Barclays PLC sells 33.9% more shareholdings in Barclays Africa London based Barclays PLC on June 01 shed 33.7% more shareholdings in Barclays Africa Group to equity investors at South African Rand R37.7bn, further reducing its stake in the latter company. The lender sold 285.7million Barclays Africa ordinary shares reducing its …

Bank of Africa Uganda Limited has launched a small and medium enterprises (SMEs) scheme to help small business access finance. The scheme  provides for a variety of products like unsecured bid guarantee of up to sh200 million, unsecured invoice discounting facility of up to sh200 million and asset finance loan …

New Delhi, India | AFP |  The recent arrest of Vijay Mallya highlighted the problem of bad loans in India, but analysts say the tycoon’s unpaid debts are just the tip of an iceberg that is already holding back the country’s economic growth. The multimillionaire owner of a Formula One …