Tag Archives: BOU

Central bank’s move could reduce the industry’s profitability | THE INDEPENDENT | Uganda’s central bank has threatened to cap interest that commercial banks can charge borrowers following the industry’s failure to lower interest rates in response to the cuts in the Central Bank Rate, according to its governor, Emmanuel Tumusiime-Mutebile. …

The decision follows BoU’s directive to support cash flow in the economy Kampala, Uganda | ISAAC KHISA | Stanbic Uganda Holdings Ltd (SUHL) has cancelled its proposed dividend payout of Shs 5.06 per share or a total of Shs110bn to its shareholders, citing central bank’s decision to decline to the …

Kampala, Uganda | THE INDEPENDENT | The government seeks to save at least USD 48 million (178.5 billion Shillings) used to print money every year by encouraging Ugandans to use digital platforms instead of cash in their transactions. Dr Adam Mugume, the acting deputy governor at Bank of Uganda said …

What international money lenders fear most about 2021 Kampala, Uganda | THE INDEPENDENT | Increased government spending and borrowing as President Yoweri Museveni seeks re-election could destabilise the economy in FY2020/21. That is the view of the latest report by the international credit rating agency, Fitch. It is backed by …

Kampala, Uganda | THE INDEPENDENT | Sudhir Ruparelia and Meera Investments Limited’s lawyers have responded to a statement from Bank of Uganda that gave reasons why they intend to go to the Supreme Court after they lost a recent appeal. Uganda’s central bank is facing huge costs after losing court …

Experts say there are lessons to learn from this case and that the central bank should not be hanged for losing it Kampala, Uganda |  JULIUS BUSINGE | Uganda’s central bank is facing huge costs after losing court cases in the Commercial and Court of Appeal over Sudhir Ruparelia, Meera …

  Kampala, Uganda | THE INDEPENDENT | The Court of Appeal on Tuesday dismissed an appeal and upheld the decision of the High Court in a suit filed by Bank of Uganda, on behalf of Crane Bank Ltd (in receivership), against Sudhir Ruparelia and Meera Investments Ltd. In dismissing the appeal, …

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda (BoU) has warned that the rate at which Uganda’s public debt is increasing is a cause for worry as the country now hits 53 trillion Shillings in debt. BoU Governor Emmanuel Tumusiime Mutebile issued the warning on Thursday while appearing before …

Kampala, Uganda |  THE INDEPENDENT |  Ugandans could see the value of their assets in the real estate industry, including land and houses decline as a result of the Coronavirus (COVID-19) disruption, Bank of Uganda has warned. This decline, the central bank says could be in double-digits meaning it could go …

Kampala, Uganda | THE INDEPENDENT | Government has revised its proposal to borrow money to mitigate the effects of coronavirus by up to 1.3 trillion shillings. On April 2, the government presented a motion to borrow up to 1.7 trillion shillings to cushion the economy from the effects of COVID-19. …