Bank of Uganda

Struggling Top Finance Bank sold to Djibouti’s Salaam African Bank

by Alphred Rhyman AgabaNews & AnalysisThe Big StoryAugust 8, 2022August 8, 2022

A Djibouti-based bank, Salaam African Bank (SAB) has acquired Uganda’s Top Finance Bank Limited (TFB). Bank of Uganda (BoU), the financial sector regulator announced the acquisition today on Monday 8th…

July 29 – August 5, 2022: Weekly financial markets review and outlook with Stephen Kaboyo

by CEO ReporterFinanceNews & AnalysisAugust 5, 2022August 5, 2022

The shilling was in a risk off trade as foreign institutional investors continued to reduce their exposure to riskier assets. The currency tested the 3900 level and later retreated to…

PostBank launches 60 smart ATMs to drive financial inclusion

by CEO ReporterCompany NewsNews & AnalysisAugust 5, 2022August 7, 2022

PostBank Uganda, a financial institution that is committed to empowering lives and transforming livelihoods, has launched its new smart ATMs in a bid to get more Ugandans financially included through…

Identifying untapped opportunities: Housing Finance Bank, BoU host meeting on foreign direct investment in Uganda

by Nelson NambooleCompany NewsNews & AnalysisAugust 1, 2022August 1, 2022

Housing Finance Bank last week sponsored a Breakfast Meeting at Serena Hotel, Kigo aimed at identifying untapped opportunities for the Ugandan economy to recover through foreign direct investment. Under the…

July 22 – July 29, 2022: Weekly financial markets review and outlook with Stephen Kaboyo

by CEO ReporterNews & AnalysisJuly 29, 2022July 29, 2022

The perpetual decline of the shilling continued with the unit touching record lows, inching towards the 3900 levels as offshore investors dollar demand coupled by oil importers demand intensified. The…

July 15 – July 22, 2022: Weekly financial markets review and outlook with Stephen Kaboyo

by CEO ReporterFinanceNews & AnalysisJuly 22, 2022July 22, 2022

The Uganda shilling slumped to an all time record low against the dollar, breaching a crucial psychological level of 3800 on increased demand mainly from offshore portfolio investors exiting the…

July 8 – July 15, 2022: Weekly financial markets review and outlook with Stephen Kaboyo

by CEO ReporterNews & AnalysisJuly 15, 2022July 15, 2022

The Uganda shilling weakened early in the week and later recouped some losses in choppy trading as mid month tax payments took away appetite for dollars. Trading was in the…

URA beats COVID-19 odds, registers highest ever tax collection in FY 2021/22

by Nelson NambooleNews & AnalysisJuly 9, 2022July 9, 2022

Uganda Revenue Authority (URA) has commended Ugandans for enduring COVID-19 pandemic and other global crises that affected the economy and paying obligated tax fares, marking the Financial Year 2021/22 collection…

July 1 – July 8, 2022: Weekly financial markets review and outlook with Stephen Kaboyo

by CEO ReporterNews & AnalysisJuly 8, 2022July 8, 2022

The Uganda shilling caught a breather in the early part of week but edged lower against the resurgent dollar at close of week as demand picked up mainly from the…

Controlling Inflation: Bank of Uganda increases Central Bank Rate to 8.5%

by Alphred Rhyman AgabaThe Big StoryJuly 6, 2022July 6, 2022

In a bid to curtail inflation, the government of Uganda, through the Bank of Uganda (BoU) has increased the Central Bank Rate (CBR) by 1 percentage point to 8.5%. At…