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EXCLUSIVE: Gov’t of Uganda borrowed €500 million  from Stanbic Bank to fix FY2022/23 budget holes

by Muhereza Kyamutetera
Uganda’s Minister of Finance, Planning and Economic Development (MoFPED) Hon. Matia Kasaija and Permanent Secretary/Secretary to the Treasury, Ramathan Ggoobi, are under pressure to tame public debt while increasing the efficiency of government spending.

The government of Uganda in Q4 of FY2022/23 borrowed €500 million (UGX2 trillion) from Stanbic Bank Uganda and its parent, Standard Bank South Africa, to plug holes in its budget,…

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About the Author

Muhereza Kyamutetera is the Executive Editor of CEO East Africa Magazine. I am a travel enthusiast and the Experiences & Destinations Marketing Manager at EDXTravel. Extremely Ugandaholic. Ask me about #1000Reasons2ExploreUganda and how to Take Your Place In The African Sun.

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