BOU denies hiding cash on foreign account in Germany Kampala, Uganda | JULIUS BUSINGE | Bank of Uganda (BOU) has dismissed as untrue reports that it has hidden Sh10.7 billion in a bank in Germany, an issue that has been widely spread on social media in the past week. In …
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Brussels, Belgium | AFP | The battle for the spoils of Brexit began Tuesday as 23 European cities launched their bids to host two London-based EU regulatory agencies that will be forced to leave the British capital. Slick videos and glossy brochures abounded as the EU announced that 19 cities were …
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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 …
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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, …
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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 …
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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 …
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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 …
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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 …
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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 …
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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 …
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The Independent Uganda: You get the Truth we Pay the Price
