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The Uganda Parliament Speaker, Anita Among has forwarded the Auditor General’s forensic audit report on the alleged loss of over UGX 60 billion from Bank of Uganda (BoU) to the Uganda Police Directorate of Criminal Investigations (CID) for further investigations. Speaker Anita Among sent the report to the CID after it was laid before Parliament by the Government Chief Whip, Hon. Denis Hamison Obua on Thursday, 09 January 2025. The Speaker noted that she held consultations with President Yoweri Museveni and a decision was taken to have the report investigated further. “Looking at the ingredients of the report, they are…
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Navigating inflationary waters Bank of Uganda Deputy Governor, Micheal Atingi- Ego shares the story of Uganda’s monetary policy in 2024, which he says was one of cautious optimism and strategic actions, which helped keep core inflation (excluding volatile items like food crops and energy) stable. The BoU began the year with a Central Bank Rate (CBR) of 9.5%, gradually increasing it to 10.25% by April, before cautiously easing it to 9.75% by November. This signalled a balanced approach to maintaining monetary stability amidst external and domestic challenges. Concerns about exchange rate volatility, driven by the repositioning of yield-seeking offshore investors…
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Uganda’s central bank, the Bank of Uganda, has its work cut out in implementing its domestic gold purchase programme that was launched in July this year. The Bank’s gold programme…
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