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Tag Archives: BOU

BOU: Domestic borrowing risking country’s growth

Kampala, Uganda | THE INDEPENDENT |  The Bank of Uganda (BOU) has expressed fear over the rising borrowing by the government from the local banking industry, saying it could team up with other factors to affect the growth of the economy. As of the end of June 2023, the government …

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BoU, DPF pay off EFC microfinance depositors

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda and the Deposit Protection Fund (DPF) issued a roadmap for the payment of depositors at microfinance company EFC Uganda, now under liquidation. According to the plan, and the laws, DPF will pay the protected depositors, or those with deposits not more …

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BOU Liquidates EFC Uganda

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda (BoU) on Friday, took a decisive step by utilizing its authority as outlined in Sections 72 (1) and 12 (1) (d) & (g) of the Microfinance Deposit-taking Institutions (MDI) Act, 2003, as amended, to officially initiate the liquidation process for Entrepreneurs …

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BoU closes EFC Uganda Limited

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has closed EFC Uganda Limited, a microfinance company due to poor financial standing. The action is based on Sections 72 (1) and 12 (1) (d) & (g) of the Microfinance Deposit-taking Institutions (MDI) Act, 2003 as amended. BOU’s decision which also places …

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