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Tag Archives: BOU

BOU launches remittance monitoring tool as inflows grow

Kampala, Uganda | THE INDEPENDENT | Companies dealing in remittance services are now required to report data on their transactions weekly to the Bank of Uganda (BOU), under a newly developed system. The Central Bank has developed a new data collection approach regarding diaspora remittances, where all remittance service providers …

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BoU Deputy Governor pushes for increased insurance penetration

Kampala, Uganda | THE INDEPENDENT | Uganda’s Insurance Industry has been advised to focus on cheap and convenient means of payment for services to boost penetration. Dr Augustus Nuwagaba, the Deputy Governor of the Bank of Uganda, says all industries today are innovating in payments, primarily through digitisation, because the …

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8 remanded over BoU heist

Kampala, Uganda | THE INDEPENDENT | The Anti-Corruption Court has remanded eight people for causing financial loss to the government. According to the prosecution, Accountant General Lawrence Ssemakula, Commissioner Treasury Services Jenifer Muhuruzi, and the senior IT officer Yawe Tonny being employed in the Ministry of Finance neglected to put in …

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BoU shs60 Billion Heist: Accountant General, 8 others arrested

Kampala, Uganda | THE INDEPENDENT | The Accountant General Lawerence Semakula and eight others have been arrested following the disappearance of $17M (UGX60B) from the Bank of Uganda (BOU). Money mysteriously disappeared from BOU in September 2024 and ended up in foreign accounts in The United Kingdom (UK) and Asian …

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BoU reduces frequency of interest rate review

KAMPALA, UGANDA | THE INDEPENDENT | The Bank of Uganda has reduced the frequency of the review of the Central Bank Rate, to allow for more comprehensive economic analysis and enhanced forecasting accuracy. This, the Bank says, will in turn enable the management to “build upon our established track record of …

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BoU holds CBR at 9.75% to sustain inflation stability and drive growth

  Potential global inflationary pressures, geopolitical tensions, and tightening global financial conditions  could pose upside risks to inflation Kampala, Uganda | THE INDEPENDENT | Uganda’s central bank has opted to maintain the Central Bank Rate (CBR) at 9.75%, signaling confidence in the stability of domestic inflation and economic activity despite global …

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