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Tag Archives: currency

W.African anglophone states criticise move to rename CFA

Abuja, Nigeria | AFP |  English-speaking West African countries on Thursday criticised a move to rename the CFA franc used by former French colonies, saying the move jarred with plans to introduce a region-wide currency of the same name. Members of the West African Monetary Zone (WAMZ) Convergence Council said …

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State House Anti-Corruption unit confirms raid on BOU

Kampala, Uganda | THE INDEPENDENT | The State House Anti-Corruption Unit has confirmed they grilling several Bank of Uganda officials in relation to an investigation of a dubious recent procurement. Media in Kampala are reporting the investigation is about a recent procurement of new currency notes. Reports indicate there was extra …

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Opposition welcomes EALA Bill on common currency

Kampala, Uganda | THE INDEPENDENT | The Opposition in Parliament has welcomed the passing of the East African Monetary Institute Bill 2017, which will pave way for a single currency in East Africa. The East African Monetary Institute Bill sought to set up the agency to perform the role of a …

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Behind Bitcoin’s collapse

The real cost of the digital cryptocurrency’s fall from grace Kampala, Uganda | THE INDEPENDENT | Bitcoin hit its highest valuation a year ago, reaching above £15,000 on some exchanges. Since then, a unit of the cryptocurrency has dropped 80% and is valued at less than £3,000. According to Sky …

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Govt. tables bill to stop rent in dollars

Kampala, Uganda | THE INDEPENDENT |  Government has presented a proposal prohibiting landlords from charging rent in foreign currency for residential and business premises. The proposal is one of the several contained in the Landlord and Tenant Bill, 2018, which seeks to regulate the relationship between landlords and tenants; and to …

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Russia seeks to dump dollar as new US sanctions loom

Moscow, Russia | AFP | Moscow is intensifying efforts to wean its economy off the dollar as Washington considers tough new sanctions that could deny Russia access to foreign debt markets and cut its banks from the greenback. President Vladimir Putin has repeatedly slammed the US unit’s dominance on the …

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