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Tag Archives: banks

Silent ‘War’ as banks take insurance broker’s profits

Kampala, Uganda | THE INDEPENDENT | Commercial banks’ written premiums from insurance are on steady increase hardly three years after the banking law allowed banks to distribute insurance. The Insurance Regulatory Authority says the insurance premiums from Bancassurance now stand at slightly above twenty-six billion Shillings from zero in August 2017 …

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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 banks …

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BRAC Uganda Bank launched

    Kampala, Uganda | THE INDEPENDENT | BRAC, one of the largest microfinance providers in Uganda, has been transformed into a Tier 2 Credit Institution (CI) to broaden the range of financial services it provides to low-income communities. First Deputy Prime Minister General Moses Ali represented President Yoweri Museveni …

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Banks 2018 surprise

Low interest rates still hinder industry profitability Kampala, Uganda | ISAAC KHISA | Uganda’s commercial banks will pull off a surprise profit growth amidst low interest rates that dominated 2018. This is due to a sharp decline in the Non Performing Loans and growth in the private sector credit as prospective …

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Mutebile defends closure of commercial banks

Kampala, Uganda | THE INDEPENDENT | The Governor of Uganda’s Central Bank Emmanuel Tumusiime Mutebile has insisted that he was right to close seven commercial banks between 1993 and 2017. Mutebile made the remarks on Thursday as he gave his closing remarks on the ongoing probe by parliament’s Committee on Commission’s …

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ANALYSIS: What is behind Africa’s crypto-phobia?

African central banks should set up specialised units dedicated to researching cryptocurrencies Kampala, Uganda | ALLEN CHORUMA | As the use of cryptocurrencies gains momentum, African central banks, gripped by crypto-phobia, are pressing panic buttons, with some taking the easy way out by banning the use and trading in cryptocurrencies in …

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