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Tag Archives: BOU

Govt revises proposal to acquire loans for COVID-19

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. …

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Ease capital requirements for banks

  Why government must support the banking sector to keep credit flowing to stimulate economic growth COMMENT | SIMON MUTUNGI | Following the 2008 Global Financial Crisis, many banks collapsed worldwide while others had to plow through public funds in the form of government bailouts in order to survive. To …

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Museveni advises banks to relax loan repayments

Kampala, Uganda | THE INDEPENDENT | In a way of emphasis on bank loans, President Yoweri Museveni has said banks must not count days when people have not been working to service active loans. Millions of Ugandans in both the formal and informal sectors are currently not working as a result …

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Musinguzi new URA boss, Atingo-Ego BOU deputy governor

Kampala, Uganda | THE INDEPENDENT | President Yoweri Museveni has appointed John Musinguzi Rujoki as new Uganda Revenue Authority Commissioner General and named Dr Michael Atingo-Ego Bank of Uganda deputy governor. Musinguzi has been presidential advisor on ICT and investment and board chairman of the National Information Technology Authority (NITA). He will replace …

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Uganda improves in the Absa index

But it must promote exports, manage debt and collect more tax Kampala, Uganda | JULIUS BUSINGE | The 2019 Absa Africa Financial Market Index Report for Uganda released on Jan.28 in Kampala has some good news. The index, which evaluates financial market development in 20 countries, shows that Uganda remains …

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Uganda’s public debt reaches sh46 trillion

Kampala, Uganda | THE INDEPENDENT | Uganda’s public debt has grown to Uganda shillings 46 trillion (USD12.5bn) as at the end of June 2019 up from Shs 39 trillion (USD10.7bn) in June 2018, according to the latest Ministry of Finance report. This raises the share public debt from 34.8% of …

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