Tag Archives: BOU

Kampala, Uganda | THE INDEPENDENT | The Speaker of Parliament, Anita Among has given the government two weeks to present before the House a Bill seeking to give commercial banks power to regulate Islamic banking. This was during the plenary sitting on Wednesday in which Members of Parliament queried the delayed …

Cellulant will now be able to develop its operations locally and regionally while providing re-assurance to its business partners Kampala, Uganda | RONALD MUSOKE | Cellulant, a pan-African payment technology company, has been granted a payments systems operator licence by Uganda’s central bank—the Bank of Uganda. The licence is in …

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda is confident that its recent policies against rising inflation and foreign exchange are beginning to bear fruit, through external challenges remain. The country faced a spiral in inflation over the last nine months, which rose from less than 3 percent in february …

Kampala, Uganda | THE INDEPENDENT | The Deputy Governor of the Bank of Uganda, Michael Atingi-Ego has told parliament that the country’s public debt has now hit 80 trillion Shillings. He says that Uganda’s debt servicing in the current financial year 2022/2023, is at a ratio of tax revenue estimated at …

Kampala, Uganda | Xinhua | Uganda is grappling with double-digit inflation as spillover effects of the global economic decline filter through the domestic economy, the country’s central bank, Bank of Uganda (BOU) has said. Domestic inflation hit double digits for the first time in a decade, rising to 10 percent in …

Uganda’s real GDP expanded 4.9% y/y in Q2 22, marginally weaker than the prior quarter’s 5.1%, following a marked moderation in import taxes. The pace of growth is anticipated to slow in H2 2022 as households navigate a higher inflation and lending rates environment. Economic growth will average about 4.3% …

Kampala, Uganda | THE INDEPENDENT | Statutory authorities involved in the financial sector regulation have admitted that some of the business cooperators find it a burden to comply with the requirements of the different regulators. With new businesses coming up, including cryptocurrency trade, collective investment schemes and use of trading agencies, as …

Vanishing mineral exports dent economic recovery Kampala, Uganda | THE INDEPENDENT | Uganda’s non-formal export sector has maintained a downward trajectory year-on-year, according to the latest July 2022 figures from Bank of Uganda (BoU). The effect has been a dent on the otherwise emerging signs of recovery in exports buoyed …

Kampala, Uganda | THE INDEPENDENT | The Government is satisfied with the performance of the Bank of Uganda under the leadership of the Deputy Governor Michael Atingi-Ego, finance minister Matia Kasaija has said. Kasaija, in an interview with Uganda Radio Network, says Atingi-Ego is doing “a fantastic job” and that there’s …

BoU raised policy rate for a third straight time in a row signaling boost to interest rates | THE INDEPENDENT | Dfcu and DTB have recorded a surprise profit for the first six months of the year but the uncertainty remains ahead due to the prevailing tough economic times. Dfcu …