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Tag Archives: Michael Atingi-Ego

Gov’t starts payment of Shs2.5 trillion matured securities

Kampala, Uganda |¬†THE INDEPENDENT |¬†The government is to pay Shs2.5 trillion to the Bank of Uganda (BoU) in matured securities after its repayment was disrupted by the advent of COVID-19. The money is a domestic loan acquired by the government through the Bank of Uganda as an intermediary for individuals …

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Further borrowing will constrain development efforts: BOU

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

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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 …

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Banking industry to develop long term export credit facility

Kampala, Uganda | THE INDEPENDENT |¬†The Ugandan borrowing public will continue enduring a high cost of credit for as long as the current inflation and foreign exchange rates continue skyrocketing, according to the Bank of Uganda. This is in response to calls by the private sector, especially the manufacturers, that …

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BOU cautions against cyber fraud as NSSF launches smart card

Kampala, Uganda | THE INDEPENDENT |¬†The Bank of Uganda has tasked the National Social Security Fund-NSSF to ensure there are no cases of cyber fraud as the fund launches a three-in-one social security smart card. With the card, the fund‚Äôs qualified members will be able to directly withdraw their NSSF …

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Central Bank calls for better planning, accountability for emergencies

Kampala, Uganda | THE INDEPENDENT |¬†The Deputy Governor Bank of Uganda, Michael Atingi-Ego has called for better planning for emergencies so that pandemics can have minimal impact. Atingi-Ego noted the need for reduction in spending on non-priority areas, postponement of capital intensive and import-dependent projects to help improve external balance …

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Agricultural credit facility demand outstrips available funds

Kampala, Uganda |¬†THE INDEPENDENT |¬†Ugandans in the agriculture sector have so far received a total of 620 billion Shillings under the Agricultural Credit Facility, a fund managed by the Bank of Uganda, according to a report for the period June 2020/2021. This was an increase by half in the amount …

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