Tag Archives: BOU

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 …

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 …

Kampala, Uganda | THE INDEPENDENT | The financial sector forecast is that the full effect of the Covid-19 pandemic will be realized in the next two years when investments and projects that were started earlier were supposed to have started yielding returns. The real bad effect of the pandemic has not …

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 …

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 …

Kampala, Uganda | THE INDEPENDENT | An activist has petitioned the High Court Civil Division in Kampala seeking to terminate the appointment of Dr Twinemanzi Tumubweine the executive director in charge of supervision at Bank of Uganda. In his suit, Arnold Anthony Mukose argues that Twinemanzi is not fit to be …

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 …

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 …

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 …

Kampala, Uganda | THE INDEPENDENT & URN | Bank of Uganda (BOU) has stated that foreign banks lending deposits held in jurisdictions other than Uganda are regulated and supervised by their home authorities, and it is not mandatory for a foreign bank to establish a representative office in Uganda in …