Fintech Companies On The Rise In Uganda

February 8, 2023 Finance Comments Off on Fintech Companies On The Rise In Uganda

Uganda has in recent months experienced a growth in the number of fintech companies. On December 22, 2022, Uganda had 24 payment service providers and payment system operators. By February 3rd 2023, another operator, Velox Solutions Corp joined this list through its official launch. Acting director National Payment Systems at Bank of Uganda expressed joy at the rapid growth of ...

Commercial Banks Warn Of Higher Interest Rates Following BoU Hiking Lending Rate

August 23, 2022 Economy Comments Off on Commercial Banks Warn Of Higher Interest Rates Following BoU Hiking Lending Rate

Commercial banks have revealed that they will also hike interest rates after the Central Bank hiked the lending rate. Over the past couple of months, Bank of Uganda has increased the CBR to 8.5%. Anne Juuko, the chief executive officer of Stanbic Uganda said this move by Bank of Uganda is apparently the only solution to inflation. However, it also ...

Shilling Loses Against The Dollar For First Time In Two Years

May 20, 2022 Business Comments Off on Shilling Loses Against The Dollar For First Time In Two Years

Experts Foresee More Headwind For The Shilling

Between April 2022 and May 20th, 2022, the shilling has depreciated against the dollar by 3% according to Bank of Uganda. This has happened for the first time in over two years, the shilling losing ground against the dollar. Earlier this week, Dr Adam Mugume, the Bank of Uganda director of research had an interview. During the interview, he said ...

Mutebile Was Excellent Economist That Worked With Corrupt Regime – Bobi Wine

January 24, 2022 Uganda news Comments Off on Mutebile Was Excellent Economist That Worked With Corrupt Regime – Bobi Wine

Mutebile Was An Excellent Economist That Worked With A Corrupt Regime - Bobi Wine

The National Unity Platform leader, Bobi Wine has come out to eulogize the fallen Bank of Uganda Governor, Emmanuel Tumusiime Mutebile. Mutebile died yesterday in a Nairobi hospital where he had been receiving treatment for a while. Taking to his Twitter page, Kyagulanyi sent his condolences to the family. He further said that Uganda has some excellent professionals. However, the ...

Government Launches Recovery Fund For SMEs Affected By Covid-19

November 24, 2021 Finance Comments Off on Government Launches Recovery Fund For SMEs Affected By Covid-19

The Ministry of Finance has joined hands with the Bank of Uganda and the Uganda Bankers Association to launch a recovery fund for SMEs. The bodies launched a shs 200 billion to pull back afloat small and medium enterprises that were affected by Covid-19. During the launch on Tuesday, Matia Kasaija said the recovery fund will assist Uganda’s business community ...