Kampala, Uganda | THE INDEPENDENT | Uganda’s banks will next week hold the 5th Annual Bankers Conference focusing on recovering manufacturing, tourism and agribusiness sectors. The two-day conference starting on July 25 will take stock of the financing gaps and other funding challenges therein, how best the financial sector players and …
Read More »Banks target selected sectors amidst growing economic crisis
Kampala, Uganda | THE INDEPENDENT | The banking industry is worried over the rate at which the cost of living in Uganda is rising threatening the recovery of the economy. The Uganda Bureau of Statistics reports that headline inflation steadily increased to 6.8 per cent at the end of June, from …
Read More »Government rallies banks to help increase tax revenues
Kampala, Uganda | THE INDEPENDENT | The government is rallying commercial banks and other financial institutions to help it increase tax revenues by ensuring more people are taxed. As the presentation of the 2022/23 national budget draws closer, the Uganda Revenue Authority figures show an uphill task if the agency is to …
Read More »Covid-19: Education sector loan portfolio stands at UGX 2 Trillion
Kampala, Uganda | THE INDEPENDENT | The Executive Director of Uganda Bankers’ Association (UBA), Wilbrod Owor says that the total direct school loan portfolio is currently 1.3 trillion Shillings, and this includes institutional and personal loans and the accumulated interest. He adds that their records also indicate another 600 billion debt …
Read More »National Payment Systems Act: will new regulations deliver growth in fintech sector?
BUSINESS FEATURE | THE INDEPENDENT | It’s been thirteen years since the Ugandan payments landscape was disrupted by the First mobile money system. In 2009, MTN Uganda introduced the first mobile money transaction service and today, the sector has grown to more than 170 private players consisting of mobile …
Read More »Uganda’s Annual Bankers Conference slated for July 26-27
The conference will focus on strengthening capacity to thrive in the 4th industrial revolution Kampala, Uganda | THE INDEPENDENT | The Uganda Bankers Association (UBA) is set to hold the 4th Annual Bankers Conference on the July 26-27, under the theme: Bend but don’t break: How the financial sector can thrive in …
Read More »Bankers oppose planned cash withdrawal tax
Kampala, Uganda | THE INDEPENDENT | The Uganda Bankers Association-UBA is petitioning the Central Bank to block the proposed taxation of cash withdrawals from the bank. The proposal has drawn condemnation across sections of the public after the Ministry of Finance Planning and Economic Development wrote to the Governor of the …
Read More »Bank of Uganda issues statement on loans
Kampala, Uganda | THE INDEPENDENT & URN | Bank of Uganda (BOU) has stated that foreign banks lending deposits held in jurisdictions other than Uganda are regulated and supervised by their home authorities, and it is not mandatory for a foreign bank to establish a representative office in Uganda in …
Read More »BoU lists banks with lowest lending rates on loans
Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has named commercial banks charged borrowers lowest rates between January and June 2020, effectively making them the cheapest lenders for debtors to run to. Absa bank, Baroda, Bank of India, Citibank, Ecobank, NC Bank, Stanbic Bank, Standard Chartered Bank, United Bank of …
Read More »Banks restructure UGX 2.5 trillion in May
Kampala, Uganda | THE INDEPENDENT | Banking institutions in May restructured loans worth Shillings 2.5trillion as more businesses and individuals applied to have their loan repayments halted due to disruptions by corona virus-COVID-19. This is more than the Shillings 2 trillion that were restructured in April 2020. Wilbrod Owor, the Executive …
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