Kampala, Uganda | URN | The Bank of Uganda recorded a surplus of 1.32 trillion in the financial year 2025/26, representing a 100 per cent increase from the previous year, while boasting lower than forecast expenditure figures. These results reflected budget discipline, prudent expenditure management, and responsible deployment of …
Read More »
Kampala, Uganda | URN | Bank of Uganda Governor Michael Atingi-Ego has rejected suggestions that Uganda’s Sovereignty Bill may have contributed to the recent depreciation of the shilling, attributing the currency’s weakness primarily to a widening current account deficit and reduced portfolio investment flows. The Protection of Sovereignty …
Read More »
Petrol prices have jumped to Shs7,000 per litre from Shs4,000 in September, as the dollar climbs to Shs4,000 from Shs3,700 Kampala, Uganda | JULIUS BUSINGE | Uganda’s government is resisting broad fuel subsidies and artificial support for the shilling, a decision that could prolong pressure on households and …
Read More »
In this letter to the Finance Minister, Rwakakama outlines a third path between spending the reserves buffer and watching the shilling. COMMENT | MORRISON RWAKAKAMBA | Dear Henry Musasizi, Minister of Finance, Planning and Economic Development. I write on the evening of our 64th Independence, as a citizen in the coffee …
Read More »
NEWS ANALYSIS | URN | Commercial Banks in Uganda have two days left to meet the new minimum Cash Reserve Requirement (CRR) set by the central bank at 13.5 percent up from the previous 11 percent. CRR is a part of the total customer deposits that a bank should maintain …
Read More »
Kampala, Uganda | URN | The Parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has postponed its engagement with Bank of Uganda after the central bank failed to provide satisfactory explanations over a Shs140.487 billion guarantee issued to Habba Group that has remained outstanding since 2017. The committee …
Read More »
Kampala, Uganda | URN | Only seven of an estimated 90 large Savings and Credit Cooperative Societies (SACCOs) have so far obtained licences from the Bank of Uganda, with just over five weeks remaining before the September 30 deadline for eligible institutions to come under direct central bank supervision. The …
Read More »
Equity Bank Uganda Hosts Diaspora Webinar on Turning Remittances into Investment Capital Kampala, Uganda | NEWS CORRESPONDENT | Professor Augustus Nuwagaba, Deputy Governor of the Bank of Uganda, called on Ugandans abroad to take greater ownership of the country’s economic story by converting remittances into strategic investments. Quoting the …
Read More »
Equity Bank hosts diaspora Investment webinar Kampala, Uganda | NEWS CORRESPONDENT | As Uganda’s diaspora continues to send record remittances back home, Equity Bank Uganda is strengthening its efforts to help turn these financial inflows into long-term investments that create businesses, jobs and sustainable wealth. On Saturday, 1 August …
Read More »
A new Bank of Uganda policy seeks to push businesses and individuals towards electronic payments, but the transition will test the country’s digital infrastructure and financial readiness Kampala, Uganda | JULIUS BUSINGE | Bank of Uganda’s move to cap over-the-counter withdrawals marks a major shift in how businesses …
Read More »
The Independent Uganda: You get the Truth we Pay the Price
