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Bank of Uganda- Page 9

Left-Right: Finance Minister Matia Kasaija, Bank of Uganda Governor Michael Ating-Ego, and Lawyer Silver Kayondo. The Finance Ministry and Bank of Uganda maintain that cryptocurrencies are not legal tender in Uganda. Kayondo’s attempt to find legal means of regularizing cryptocurrency through the court was dismissed.
Left-Right: Finance Minister Matia Kasaija, Bank of Uganda Governor Michael Ating-Ego, and Lawyer Silver Kayondo. The Finance Ministry and Bank of Uganda maintain that cryptocurrencies are not legal tender in Uganda. Kayondo’s attempt to find legal means of regularizing cryptocurrency through the court was dismissed.

Uganda Sits on a Trillion Shilling Crypto Market – But Without Rules, Clarity or Direction

Imagine a young software developer in Kampala. He’s just finished building a smart-contract application that could help farmers track produce payments without relying on brokers. He’s hopeful, energized, but frustrated. Because while
July 1, 2025
Auditor General Edward Akol (right) reveals a cocktail of failures, including delayed or non-payment of enumerators, which could have been one of the earlier signs of a messy census conducted by Ubos under the leadership of Chris Mukiza.
Auditor General Edward Akol (left) reveals a cocktail of failures, including non-payment or delayed payment of enumerators, which could have been one of the earlier signs of a messy census conducted by Ubos under the leadership of Chris Mukiza.

The Census that Cannibalized the System: Auditor General Digs Inside Uganda’s UGX396 billion Data Gamble

“Counting people should never cost a country its ability to make people count.” These words, first voiced during a 2015 keynote address by South African statistician Pali Lehohla at a UN Data
June 17, 2025
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Uganda's financial landscape has undergone a revolutionary transformation, with mobile money evolving from a novel concept to a colossal economic engine.

The Mobile Phone @30: The Mobile Money Economy; UGX Trillions in Motion

In May 2021, Bank of Uganda issued two licenses to Airtel Mobile Commerce and MTN Mobile Money to conduct various money transfer and payment services. The licenses were partly intended to implement
June 4, 2025
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Second from left to right; Peace Ayebazibwe, Executive Director of Housing Finance Bank, and Michael Mugabe, Managing Director of the Bank, receive one of the awards from Richard Byarugaba, Executive Director Finance, Bank of Uganda, during the Agricultural Credit Facility award ceremony.

Housing Finance Bank Earns National Recognition for Advancing Agriculture and Small Business Recovery.

Housing Finance Bank received two prestigious national awards in recognition of its pivotal role in strengthening Uganda’s economic resilience. The Bank was honored by Bank of Uganda with the Agricultural Credit Facility
May 31, 2025
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Amos Nzeyi (left) and his son Humphrey Nzeyi, both shareholders in the now defunct National Bank of Commerce, whose closure by the Bank of Uganda sparked a prolonged legal battle ending in a Supreme Court ruling.

Bank of Uganda Was Right To Close National Bank of Commerce; Supreme Court Rules.

The Supreme Court of Uganda has delivered a landmark ruling dismissing a constitutional appeal by Humphrey Nzeyi, a shareholder of the defunct National Bank of Commerce (NBC), challenging the legality of the
May 17, 2025
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Bank of Uganda Governor, Michael Atingi-Ego and his deputy, Augustus Niwagaba have opted to hold the Central Bank Rate at 9.75% citing a resilient domestic economy and broadly contained inflation.

Bank of Uganda Holds CBR at 9.75% Amid Resilient Growth and Rising Inflationary Risks

The Bank of Uganda (BoU) has opted to hold its Central Bank Rate (CBR) steady at 9.75% in its May 2025 Monetary Policy statement, citing a resilient domestic economy and broadly contained
May 16, 2025
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Fatima Ali, Acting Managing Director, Guaranty Trust Bank Uganda. She is steering the bank through a challenging transition period following its downgrade to a Tier II Credit Institution, amid declining deposits, reduced lending, and efforts to restore profitability.

Guaranty Trust Bank Sees Key Declines And First Loss In 5 Years In Its First Year As Tier II Institution

Guaranty Trust Bank (Uganda) Limited has reported its first loss in over five years, highlighting the difficult transition it is facing after downgrading to a Tier II Credit Institution in 2024. The
April 27, 2025
Owen Amanya, Chief Executive Officer of Opportunity Bank Uganda, steered the institution to a 28% profit growth in 2024, demonstrating resilience and strategic focus even after transitioning to a Tier II Credit Institution.

Uganda’s Opportunity Bank Remains Resilient and Profitable Even After Downgrading to Tier II Credit Institution

Despite transitioning from a Tier I Commercial Bank to a Tier II Credit Institution in 2024, Opportunity Bank Uganda Limited has proven resilient, maintaining profitability, growing its loan book, and deepening its
April 27, 2025
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