Sunday , September 25 2022
Home / Tag Archives: interest rates

Tag Archives: interest rates

Demand for credit slows with raising interest rates

Kampala, Uganda | THE INDEPENDENT | The banking industry has defended its changing mode of operation which sections of the public describe as less friendly, saying they have learnt from the effects of global shocks on the businesses and economies generally. In recent times, Bank of Uganda has compelled commercial banks …

Read More »

Deputy Speaker appeals for cut in interest rates

Kampala, Uganda | THE INDEPENDENT | The Deputy Speaker of Parliament, Thomas Tayebwa, has implored Bank of Uganda and all players in the banking sector to consider lowering lending rates, in order encourage more production and counter the anticipated inflation due to the rising commodity prices. Tayebwa said he was concerned that …

Read More »

Demand for credit grows despite increase in interest rates

Kampala, Uganda | THE INDEPENDENT | Commercial banks approved a total of 2.8 trillion Shillings in loan amounts in the three months ending October 2021, which indicates growth from the 2.2 trillion Shillings approved in the quarter that ended July. Similarly, the value of loan applications rose to 4.9 trillion Shillings …

Read More »

UMRA announces crackdown on unscrupulous micro lenders

Kampala, Uganda | THE INDEPENDENT | The Uganda Microfinance Regulatory Authority-UMRA is launching what they have called impromptu operations against Tier4 microfinance institutions and moneylenders that are either not registered or are violating licensing terms. This follows persistent complaints from the public about fraud in the industry as well as uncoordinated …

Read More »

Uganda Development Bank to cut lending rates

Kampala, Uganda | Khisa Isaac | Uganda Development Bank (UDB) is considering reducing interest rates by two percentage points to 10% on loans to be advanced to local companies involved in various productive activities as the coronavirus containment measures takes toll on the economy. This development comes in the wake of the …

Read More »

Bank of Uganda cuts interest rate to boost growth

  Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has cut interest rates, a move expected to boost businesses’ borrowing and consequently lift growth. BoU Governor, Emmanuel Tumusiime-Mutebile announced on Monday that he was cutting the Central Bank Rate (CBR), which signals the direction of interest rates, from 10% …

Read More »