Tag Archives: banks

Kampala, Uganda | THE INDEPENDENT | Leaders in the banking industry say that they have failed to identify people who qualify for the government’s COVID-19 relief fund meant for small and medium enterprises. It comes a few days after the Bank of Uganda revealed that only Shillings 6 billion out of …

Kampala, Uganda | THE INDEPENDENT | The Constitutional Court sitting in Kampala has ruled as illegal a request by the Uganda Revenue Authority (URA) to all banks to provide it with all the details of their customers. In a lead judgement written by Justice Christopher Madrama Izama, the court found that …

Private credit and infrastructure investments across African markets rose 118% to record levels in 2021, as borrowers looked beyond domestic risk averse banks Kampala, Uganda | THE INDEPENDENT | Private equity has dominated Africa’s investment landscape for decades, popularised by huge venture capital (VC) deals in the continent’s ever-expanding tech sector. But …

COMMENT | Alfred Geresom Musamali | When finance minister Matia Kasaija admitted in Parliament last week that some governmental offices were facing funding shortages and could not pay before this past Christmas their workers’ salaries, I remembered December 1979 when I lost my mother’s salary. My mother Mrs Eleanor Mwassa of …

  Smaller African countries are punching beyond their weight to diversify their economies from agricultural dependence, a new report shows. Nairobi, Kenya | BIRD AGENCY | A new report shows that value-add factories and public-private partnership are helping small African countries industrialize much faster than their larger peers. The recently …

Kampala, Uganda | THE INDEPENDENT | An expert study on the status of cyber-security reveals wide-ranging levels of vulnerability at leading organisations that handle large volumes of personal data. The study done over the last two years by Peter Bill Kisitu, a cyber-security analyst and researcher at BitSight, a cybersecurity …

Kampala, Uganda | THE INDEPENDENT | The government is rallying commercial banks and other financial institutions to help it increase tax revenues by ensuring more people are taxed. As the presentation of the 2022/23 national budget draws closer, the Uganda Revenue Authority figures show an uphill task if the agency is to …

Borrowers took more loans in 2021 compared to a year before Kampala, Uganda | THE INDEPENDENT | Uganda’s largest commercial banks reported a sharp growth in earnings in 2021, pointing to the recovery of the economy following its partial reopening. However, some are worried about risks arising from inflation and …

Kampala, Uganda | THE INDEPENDENT | Investors in the Oil and Gas related business are crying foul over the attitude of Uganda commercial banks towards them when they approach them to finance their projects. The local investors, who are mainly Tier 2 and 3 contractors in the industry, say most …

Kampala, Uganda | THE INDEPENDENT | Commercial banks and microfinance institutions are yet to to officially hear about the 200 billion shillings for lending out money meant to rescue Ugandan small enterprises that were affected by the Covid-19 pandemic which was commissioned early last week. A check at two government-owned financial …