Tag Archives: economy

Bank of Uganda Monday reduced the Central Bank Rate (CBR) by I percentage point to 14 percent. CBR is the rate of interest which a central bank charges on the loans and advances to a commercial bank. BOU governor Tumusiime Mutebile said that because inflation is forecast to stabilize around the policy target of …

Having been appointed in October 2014 to replace the long-serving Allen Kagina as commissioner general of the Uganda Revenue Authority (URA), Doris Akol started her tenure on a rather good note. At the presentation of her very first annual revenue performance report in July last year, she was all smiles …

On March 31 2016, the total value of all loans in Uganda’s commercial banking industry was Shs21.7 trillion of which Shs528 billion were non-performing loans (or “bad loans”) i.e. 2.64% of the total. Under the effective oversight of Bank of Uganda, especially its director for supervision; Justine Bagyenda (known in …

COMMENT: Nimrod Muhumuza After years of touting of Uganda’s positive economic growth in flowery language, citing growth in the manufacturing and real estate sector, and reduced poverty and inflation statistics, it is now emerging that the government is contemplating forking out over Shs1 trillion to relieve over 100 companies facing …

NBS: Some commercial banks have recalled the loan facilities previously extended to a number of companies and individuals over concerns that they may be on their to bankruptcy. This comes as the heels of media reports of a possible bail out for some key businessmen reportedly chocking on credit facilities. …

Gen. Saleh now running Museveni’s government On July 21, a group of Kampala traders met at Serene Suites, a boutique hotel of two boxlike four-story blocks on top of Mutundwe Hill on the edges of the city that has become a sort of headquarters for the financially-distressed business people. The …

The Internal Security Organisation (ISO) and Permanent Secretaries should be at the forefront in the fight against corruption, president Yoweri Museveni has said. “ISO and Permanent Secretaries and other accounting officers at district level are the ones who should help us fight corruption because they have a countrywide network,” Museveni …

President Yoweri Kaguta Museveni has said companies that sold goods to the government of South Sudan and have not been paid will be considered for a bailout. Museveni told Uganda’s Political Leadership Retreat at the National Leadership Institute (NALI), Kyankwanzi that these companies require government intervention because they are exporting …

Deputy Governor of Bank of Uganda Louis Kasekende answered questions from The Independent’s Ian Katusiime about the bank’s upcoming golden jubilee anniversary and other economic issues.   Bank of Uganda (BoU) is marking 50 years. Looking back, what does this mean for BoU? This anniversary gives the Bank of Uganda …

Role of central banks: Kasekende caught between bulls and bears Central banks need to do something about market failures. The question is what? That was the focus of discussion at the Bank of Uganda organised debate on `The Role of a Central Bank in a Market Oriented Economy’ on July …