The Criminal Investigation Department of police (CID) has written to Bank of Uganda to produce the current Director Financial Markets Development, Benedict Sekabira in court to answer charges of concealing…
Ugandans have stashed record amounts of cash in banks, an indicator Ugandans feared to spend their money with the coronavirus uncertainty still hovering around. Bank of Uganda data shows that…
Equity Bank Uganda has revised its prime lending rate (PLR) reducing it significantly from 22% to 20.5% with effect from September this year. “We would like to inform our members…
Banking institutions in May restructured loans worth UGX2.5 trillion as more businesses and individuals applied to have their loan repayments halted due to disruptions by Coronavirus-COVID-19. This is more than…
A group of youths under the Poor Youth Network have petitioned the President Yoweri Museveni over what they have termed as ‘excessive legal fees payments’ in court case between the…
Bank of Uganda Governor Emmanuel Tumusiime-Mutebile has warned commercial banks that the central bank may be forced to impose limits on interest rates they can charge on loans. Mutebile, who…
Uganda’s dream to be an oil-producing country may not be realized until 2025, the World Bank has said. In its Economic Update report, the bank says “the sharp decline in…
Government is looking to save at least US$48 million (UGX178.5 billion) or even half used to print money every year by encouraging Ugandans to use digital platforms instead of cash…
The Governor of Bank of Uganda, Professor Emmanuel Tumusiime Mutebile, has today threatened to take retaliatory statutory action on the banking industry over its reluctance to cut interest rates in…
Stanbic Bank Uganda has yet again reduced its Prime Lending Rate, saying the move is in response to the prevailing market conditions. The bank has set the prime lending rate…
