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Tag Archives: BOU

2020 Economy: Year of Covid-19

How coronavirus turned Uganda’s economy upside down Kampala, Uganda | JULIUS BUSINGE | 2020 has been a bad year for the economy. Growth opportunities have been hampered by the spread of COVID-19 and nationwide lockdown measures which led to closure of businesses and general decline in demand for goods. Jobs …

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Ugandan banks not yet out of the woods

The real impact of COVID-19 pandemic on banks will be seen in the second or third quarter of next year Kampala, Uganda | ISAAC KHISA | Ugandan commercial banks may believe that they are headed for recovery amid the novel coronavirus pandemic but the headwinds are still big, said Tumubweine …

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Surging interest rates could slow economic recovery

Lending to be directed to sectors crucial to socio-economic development including SMEs, trade, industry and agri-business Kampala, Uganda | JULIUS BUSINGE | Interest rates have risen over the past two quarters this year but commercial bank executives say current levels are still fair to both lenders and borrowers. The latest …

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BoU starts liquidation and winding up of Crane Bank Ltd

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda (BoU) has the started process for complete closure of Crane Bank Limited, a move that will see the defunct lender’s chapter closed for good. The Central Bank as a liquidator issued a statement on Friday. A liquidator is an officer or entity …

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2020/2021 election economy

Tough times ahead as miscalculated spending, political activities and coronavirus threaten fast recovery of economic activities  Kampala, Uganda | JULIUS BUSINGE | Uganda’s economy has been on a recovery path following the easing of COVID-19 pandemic lockdown restrictions, but the uncertainty surrounding the upcoming general elections is the latest concern, economists …

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Civil society proposals for revamping the economy

Reforms cover public debt, interest rates, taxation and public spending Kampala, Uganda | JULIUS BUSINGE | A group of civil society organisations under their umbrella organization Civil Society Budget Advocacy Group (CSBAG) have presented a list of budget proposals to government that they think can jumpstart the economy that has …

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Mabirizi asks East African court to quash DTB-Ham ruling

Kampala, Uganda |  THE INDEPENDENT |   Money lenders in Uganda have petitioned the East African Court of Justice asking them to quash a recent commercial Court decision in a case involving businessman Hamis Kiggundu and Diamond Trust Bank Uganda and Kenya. The lenders under their umbrella, Money Lenders Union Limited …

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