Tag Archives: BOU

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has closed EFC Uganda Limited, a microfinance company due to poor financial standing. The action is based on Sections 72 (1) and 12 (1) (d) & (g) of the Microfinance Deposit-taking Institutions (MDI) Act, 2003 as amended. BOU’s decision which also places …

Kampala, Uganda | PWATCH-UG| The Ministry of Finance has revealed that the Government will spend up to UGX 24.9 trillion on servicing Uganda’s public debt. This comes months after the Bank of Uganda reported that Uganda’s public debt as of August 2023 stood at UGX 88.807 trillion. The August debt …

Kampala, Uganda | THE INDEPENDENT | The Uganda Shilling ended the year 2023 on a stronger note, having stabilized against the US Dollar, and did better than its peers in the East African Community, according to analysts. The currency strength has fluctuated between 3,767 and 3,815 to the US dollar over …

Kampala, Uganda | THE INDEPENDENT | The government is expected to increasingly finance its budget shortfalls from domestic borrowing as international financing options decline further. This, according to analysis of the fiscal performance at the beginning of this financial year, will continue until, hopefully, when oil imports and imports of oil …

Since the last MPC in October, new data has shown that amidst a surge in fuel prices, inflation has continued to slow down Kampala, Uganda | THE INDEPENDENT | On Dec.6, the Bank of Uganda (BoU) kept the central bank rate unchanged and promised to keep monitoring inflation and ensuring the …

Kampala, Uganda | THE INDEPENDENT |  The government has finalized the second National Financial Inclusion Strategy, aimed at increasing access to financial services. The strategy due for launch on Thursday will cover the period 2023 to 2028, succeeding the first one that was launched in 2017. According to Mackay Aomu, Director, …

Kampala, Uganda | THE INDEPENDENT | Top national economic statistics generating agencies have come together to form a single platform that would ensure accurate and more acceptable indicators. Apart from the Uganda Bureau of Statistics (UBOS), the other major producers of national statistics are the Bank of Uganda (BOU) and …

Kampala, Uganda | THE INDEPENDENT | The acting Governor Bank of Uganda (BOU) Michael Atingi-Ego has urged savers in the country to always entrust their savings to regulated financial institutions only. “The only way to preserve and grow the value of your money is to earn a return greater than inflation. …

Kampala, Uganda | THE INDEPENDENT |  The Ugandan banking sector registered a growth of 8.4 percent in assets over the last financial year leveraging the high inflation that saw private sector borrowing slow down. The resilience of the sector also came amidst weak economic growth prospects and elevated geopolitical tensions …

Kampala, Uganda | THE INDEPENDENT |  Bank of Uganda has backed customers who have recently taken to the public to voice their concerns after finding money missing from their bank accounts. This, the regulator says, compels the responsible financial institution to act swiftly to address the matter. BOU head of …