Bank of Uganda Archives – Page 13 of 25

100 WOMEN FIXING WOMEN: Josephine Okui Ossiya, Chief Finance Officer, Bujagali Energy

by CEO ReporterWomen Fixing Uganda Women in BusinessJune 28, 2021June 28, 2021

CPA Josephine Okui Ossiya is the Chief Finance Officer, Bujagali Energy Ltd (BEL). She is also a Board member of Bank of Uganda, the First Female accountant to be appointed on that board, and a Council Member of ICPAU.She is also on the Board of Trustees Bank of Uganda Defined…

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Bank of Uganda Empowers Financial Institutions on 3rd Restructure for Credit Facilities

by CEO ReporterThe Big StoryJune 25, 2021June 25, 2021

Bank of Uganda has approved requests by financial institutions and empowered them on a 3rd restructure for credit facilities to customers who have been impacted by Covid-19In a circular by Governor Emmanuel Tumusiime Mutebile to chief executives of Commercial banks, Credit facilities, Microfinance Deposit-taking Institutions, the Central Bank states:“Reference is…

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June 18 – June 25, 2021: Weekly financial markets review and outlook with Stephen Kaboyo

by Edna KyokunzireFinanceJune 25, 2021June 25, 2021

The Uganda shilling oscillated in a narrow range of 3540/50 mainly on interbank and corporate market activity. Commercials banks were seen covering positions. The unit was a touch weaker after attempting to break beneath a key level of technical support around 3500 over the past couple of weeks.On further analysis…

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Mobile Money Regulation in Uganda, At Last

by CEO ReporterThought LeadershipJune 24, 2021June 24, 2021

By Damalie TibugwisaThere is no doubt that mobile money services have transformed and revolutionalised the financial sector in Uganda. Mobile money has created new opportunities especially for SMEs, supported the much needed financial inclusion especially in the informal sector that is largely unbanked. However, at the same time, the gaps…

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June 11 – June 18, 2021: Weekly financial markets review and outlook with Stephen Kaboyo

by CEO ReporterFinanceJune 18, 2021June 18, 2021

The local unit backtracked slightly, surrendering previous week’s gains as some pockets of demand emerged. The impact of the new COVID-19 measures kept the markets on the edge. Trading was in the range of 3520/30.In a related development, Bank of Uganda kept support for economic recovery by dropping the policy…

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BoU moves to boost the economy, reduces lending rate to 6.5%

by CEO ReporterThe Big StoryJune 16, 2021June 16, 2021

Bank of Uganda (BoU) has reduced the Central Bank Rate (CBR) by 0.5 percentage point to 6.5 percent, the Monetary Policy Statement for June 2021 says.According to the Central Bank, the aim of reducing the CBR is to boost the economy, which has stagnated due to the disruptions presented by…

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June 4 – June 11, 2021: Weekly financial markets review and outlook with Stephen Kaboyo

by CEO ReporterFinanceJune 11, 2021June 11, 2021

The local currency strengthened on sustained inflows that outstripped demand as markets reacted to fresh COVID-19 lockdown measures. Bid and ask hovered around 3510/20.In fixed income, yields on Uganda government paper fell on 2 and 10 year by average 200 basis points to 11.500% and 13.739%. Falling long term yields…

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Bank Of Uganda loses appeal, ordered to pay millions to former employees

by Ephraim KasoziCommercial Justice FinanceJune 3, 2021June 3, 2021

The Court of Appeal has dismissed with costs, an appeal in which the Bank of Uganda (BOU) had sought to challenge a labour court decision that awarded hundreds of millions to its former employees.In February 2016, the Industrial Court ordered the Central Bank to pay UGX100 million to each of…

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BANK OF UGANDA REPORT: Banks lent out UGX1.8 trillion in 2020 to stem lockdown effects

by CEO ReporterFinanceJune 3, 2021June 3, 2021

Commercial banks gave out UGX1.8 trillion in form of loans and advances in 2020 following the Covid-19 induced lockdown, a report indicates.According to the 2020 Bank of Uganda (BOU) Annual Supervision report, gross loans and advances increased by 12.3 percent (UGX1.8 trillion) to UGX16.3 trillion, which was higher than 11.8…

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Why court dismissed Nzeyi case against BoU, Sudhir

by Ephraim KasoziCommercial Justice Industry & AnalysisJune 2, 2021June 2, 2021

Court has dismissed with costs a case in which businessman Amos Nzeyi had accused Bank of Uganda (BOU) of illegal closure of the National Bank of Commerce (NBC).Nzeyi co-owned NBC with former premier, Amama Mbabazi and Prime Minister Dr Ruhakana Rugunda.In 2017, Nzeyi sued BOU jointly with Crane Bank (in…

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