Kampala, Uganda | THE INDEPENDENT | The government is mooting to regulate electronic payment services and products offered mainly under new Financial Technologies also referred to as Fintech. Fintech refers to the integration of technology to allow companies provide digital financial solutions that ease transactions with just a tap of …
Read More »Why banks won’t hurry to cut interest rates
Industry executives to respond to Mutebile’s call upon carefully evaluating their commitments with clients Kampala, Uganda | JULIUS BUSINGE | Commercial Bank top executives plan to respond to the central bank’s call to lower interest rates upon carefully analyzing their current loans and sector developments. The Bank of Uganda Governor, …
Read More »BOU Governor Mutebile decries low private sector credit uptake
Kampala, Uganda | THE INDEPENDENT | Bank of Uganda Governor Prof. Emmanuel Tumusiime-Mutebile has said Uganda’s private sector credit remains low at 12% of country’s Gross Domestic Product, an issue that has led to slow business growth. Private sector credit challenges According to Mutebile, in most cases it’s only large corporate …
Read More »Behind Sudhir win
SUDHIR CASE: Plan to have BOU pay heavily Kampala, Uganda | JULIUS BUSINGE & ISAAC KHISA | Real estate tycoon Sudhir Ruparelia has won a major case in the High Court in Kampala that could see the Bank of Uganda pay him billions of shillings in costs and compensation for …
Read More »Behind Sudhir win
Plan to have BOU pay heavily Kampala, Uganda | JULIUS BUSINGE AND ISAAC KHISA | Real estate tycoon Sudhir Ruparelia has won a major case in the High Court in Kampala that could see the Bank of Uganda pay him billions of shillings in costs and compensation for lost business …
Read More »BOU to appeal against Sudhir ruling
Kampala, Uganda | THE INDEPENDENT | Crane Bank (in Receivership) is dissatisfied with Monday’s High Court’s ruling in their UGX397 billion case against Sudhir Ruparelia and will appeal, Bank of Uganda has confirmed. The High Court Commercial Division on Monday dismissed the Crane Bank (in Receivership) suit against Sudhir and …
Read More »Court dismisses BOU case against Sudhir
Kampala, Uganda | THE INDEPENDENT | The High Court Commercial Division has dismissed the Crane Bank (in Receivership) suit against Sudhir Ruparelia and Meera Investments, with Justice David Wangutusi ruling that they have no legal basis to sue. The judge dismissed the suit on Monday over lack of legal basis …
Read More »COSASE summons Mutebile
Kampala, Uganda | THE INDEPENDENT | The Committee on Commissions, Statutory Authorities and State Enterprises-COSASE, has summoned the Central Bank Governor, Prof. Emmanuel Tumusiime Mutebile. Mutebile is supposed to respond to petitions related to closure of commercial banks next week on Thursday. The Constitution gives Parliamentary committees’ quasi powers of …
Read More »Private sector lending up
But who is benefiting? Kampala, Uganda | JULIUS BUSINGE | Latest statistics from Bank of Uganda shows that private sector lending has gone up. But, a section of the private sector mainly traders, manufacturers, economic experts are saying that they are yet to benefit. Issa Sekitto, for instance, an importer …
Read More »Uganda’s coffee, maize, beans exports fall
🇺🇬 Export earnings ⬆ 2017/18 – 2018/19 Gold 🥇 US$343m – US$1,068m Fish 🐠 US$146m – US$185m Tobacco US$54m – US$85m Cocoa B US$58m – US$73m 🇺🇬 Export earnings ⬇ 2017/18 2018/19 Coffee☕ US$492m …
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