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Tag Archives: BOU

BoU closes Mercantile Credit Bank Ltd

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has revoked the license of Mercantile Credit Bank Ltd and ordered the company to wind up its affairs. Mercantile is a Tier II financial institution. Credit Institutions are described as “non-bank” financial institutions that engage in the acceptance of call and …

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Govt programs hit with Sh3 trillion funding gap

Kampala, Uganda | THE INDEPENDENT |  The government spending plans have fallen short by sh3.337 trillion in the first seven months of this financial year, as revenue mobilization continues to be a thorn in government operations. This failure to meet its spending targets, made it worse for project implementation, as …

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Tayebwa sides with BoU, opposes Stanbic’s CEO replacement

Kampala, Uganda | THE INDEPENDENT | The Deputy Speaker, Thomas Tayebwa has backed the position of the Bank of Uganda to  reject a foreign national nominated by the Standard Bank Group, to replace the former Chief Executive Officer (CEO) for Stanbic Bank Uganda, Anne Juuko. Tayebwa said it was right for …

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