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When Uganda’s capital city floods, it is often framed as a natural disaster. The skies open up in fury, the drains overflow, and Kampala drowns under its own chaos. But the truth, stark and uncomfortable, is that our floods are man-made. They are not the wrath of the heavens; they are the consequence of greed, negligence, and broken governance. And at the centre of it all stand institutions we once believed were different, Uganda’s banks. As political will falters and environmental enforcement collapses under the weight of corruption and patronage, banks have become crucial. They are the last institutions still…
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This week, starting on December 1st 2023, millions of Ugandan borrowers from Supervised Financial Institutions (SFIs) have cause to smile. The SFIs, under their Uganda Bankers Association (UBA), will cease the unpopular but long-practised, habit of penalising borrowers who choose to repay their loans early. According to a source familiar with the decision “It applies to all outstanding loans regardless of amount, currency or tenor”. This is after the SFIs came under pressure from the Central Bank’s Deputy Governor Dr. Michael Atingi-Ego and Dr. Tumubweinee Twinemanzi, the Executive Director, Bank Supervision. Following Bank of Uganda pressure that included a Deputy…
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By Taddewo Senyonyi Every January, The CEO Magazine predicts a set of CEOs who are expected to face a rough year, over the years, we have been spot on, with a number of CEOs fired and other facing but eventually overcoming raging storms. This time round we bring you yet another set of CEOs who are likely to face a tough 2014. 1. Emmanuel Tumusiime-Mutebile, Governor Bank of Uganda Prof. Mutebile was voted as Africa’s best governor in 2013 because of his monetary stance that saw inflation fall sharply from a high of 30% in January 2012 to about 8% by the end of 2013….
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