Finance

Matia Kasaija, the Finance Minister has said he is no longer clearing supplementary budgets for ministries that are just a stone in a shoe. According to him, ministries should be able to make proper Budgets rather than wait to make supplementary budget. He said this while at the budget conference at Kololo grounds “Many times you find that they have ...

In the Transparency International’s Corruption Perception Index (CPI) released for the year 2020, which rated the perceived levels of public sector corruption in 180 countries around the world, most of the African countries, especially those in Sub-Saharan Africa, were included in the “Highly corrupt” category. The top-ranked countries on the CPI were mainly from Europe, North America and Australasia. And ...

Bank of Uganda (BoU) has made a decision to lower the cheque value amounts that can be written on a single cheque leaf. This will affect five currencies including the Ugandan Shilling. The central bank noted that their decision followed a ‘no objection’ received from the Ugandan Bankers Association. On Wednesday, the central bank issued a letter to all commercial ...

Absa bank Uganda has announced the appointment of Musa Mai Jallow as their new retail banking director. This appointment took effect on 1 July 2021. ‘’Musa has a wealth of experience gained over a 23-year career in the banking industry. He joins Absa Bank Uganda from Absa Bank Mozambique, where he was the retail director and subsequently Head of Portfolio ...

Ugandans have been warned by the Capital Markets Authority (CMA) to be wary of a surge in economic crimes. The authority said the main part of the focus is the illegal fund managers, fictitious pyramid schemes, and Ponzi schemes. The CMA’s attention focused on the Alliance In Motion Global (AIM Global), one of the numerous firms under investigation by the ...