Kampala, Uganda | THE INDEPENDENT | Several commercial banks have announced resumption of full operations after the COVID-19 lockdown was lifted on most business activities across the country. Tropical bank, Stanbic Bank, and Centenary Bank have written a note to customers that their doors will be open between 8:30am and …
Read More »Non-performing loans jump to UGX 783 Bn – BoU
Kampala, Uganda | THE INDEPENDENT | The amount of money where borrowers have not made any payments for at least three months grew by 15 percent to 783 billion Shillings between January and March 2020, the Bank of Uganda has said. This is a growth from 666.3 billion Shillings of …
Read More »Banks restructure loans worth UGX 2 Trillion
Kampala, Uganda | THE INDEPENDENT | The Uganda Bankers’ Association has said that commercial banks have restructured loans to a tune of 2.02 trillion Shillings as a result of the effects of the COVID-19 lockdown on businesses. According to the Association’s Executive Director Wilbrod Owor, in the first month of …
Read More »Banks loan approvals fall by 68%
Kampala, Uganda | THE INDEPENDENT | Lenders in Uganda are staying away from approving loans as prospects of repayment look grimmer than ever, a government report says. According to the Ministry of Finance May performance of the economy report, the value of loans approved by banks in April fellow by 67.9 …
Read More »Ugandan banks close at 2pm to allow staff beat curfew
Kampala, Uganda | THE INDEPENDENT | Several commercial banks have announced they will revise down their closure time to allow staff enough time to drive home so as not to be caught by the 7pm curfew. While some banks have not yet indicated that they will shift from the …
Read More »New York plans how to return to business amid pandemic
New York, United States | AFP | Banks are considering letting some employees keep working from home indefinitely, and staggering the shifts of those who do come into the office. Hotels are trying to figure out a way to let arriving guests go straight to their rooms without signing in at …
Read More »BOU gives banks green light to change operating hours
Bank of Uganda okays change in bank operating hours, closure on weekends Kampala, Uganda | THE INDEPENDENT | The central bank (BOU) has agreed to a request by the Uganda Bankers Association for a change in operating hours to cope with the challenges brought by the COVID-19 pandemic. “On account of …
Read More »Standard Chartered manufacturers’ business forum attracts 150
Kampala, Uganda | JULIUS BUSINGE | Standard Chartered Bank Uganda has today (Feb.18) organized a Manufacturers’ Business Forum for over 150 manufacturers and various stakeholders at Hotel Mestil in Kampala. The aim was to provide a platform for market players to network, share forward-looking insights and best practices, according …
Read More »Ugandans capital ownership still in control of Western colonialists
DR EZRA SURUMA: No Ugandan can open a bank now COMMENT | Dr. Ezra Suruma | One of the most blatant aims of new colonialism (neocolonialism) is to ensure that Africans are denied access and control of capital. The evidence is overwhelming. It started in 1987 when the World Bank …
Read More »Uganda to host AFREXIM East African regional bank office
Kampala, Uganda | THE INDEPENDENT | Uganda has signed a hosting agreement and a memorandum of understanding with African Export-Import Bank (Afreximbank) to host their East African regional office starting next month. The announcement was made after a meeting between leading officials of the bank and President Yoweri Museveni at State …
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