Remember when the Uganda Revenue Authority (URA) unveiled the Electronic Fiscal Receipting and Invoicing System (EFRIS)? Many business owners and traders were perplexed. Rumors swirled, and misconceptions spread like wildfire. ‘Is it another tax?‘ they wondered. Asking whether it was a new burden on their already strained businesses? But little did they know, EFRIS was…
The Bank of Uganda, established in 1966, is the central bank of Uganda, responsible for promoting economic stability and growth. Over the years, the bank has had nine governors, each contributing to its development. Here is a profile of all the governors and how they have shaped the bank’s trajectory. Governors of the Bank of…
The Bank of Uganda’s latest Annual Report shows positive economic trends, with inflation rates decreasing and the Ugandan Shilling maintaining stability. The report highlights significant growth in the financial sector, driven by efforts to increase financial inclusion and support economic expansion. According to the report, Uganda’s financial sector is thriving, supported by policies aimed at…
The Bank of Uganda (BoU), the central bank of Uganda, has had a diverse array of governors since its establishment, each playing a key role in shaping the country’s monetary policies and the broader economic landscape. Here’s an analysis of the different governors and their contributions to the BoU: Joseph Mary Mubiru (July 1966 –…
By Teddy Namayanja Uganda’s small and medium enterprises (SMEs) are about to get a major boost, thanks to a $15 million fund (approximately 68 billion shillings) from the East African Development Bank (EADB). This financial support will be channeled through three local banks: Centenary Bank, Housing Finance, and Opportunity Bank, benefiting around 1,500 SMEs. The…
By Amos Ssemuwemba A Canada-based Ugandan businessman, Daniel Dennis Ssemugenyi, has accused DFCU Bank of unlawfully withholding his property titles despite fully settling a mortgage loan. He claims the bank forced him to repay the UGX 226 million loan for a condominium in Naalya within two and a half years, instead of the agreed 13…
By Amos Ssemuwemba Equity Bank Uganda has achieved a major milestone in its digital transformation journey, with 96% of all customer transactions now processed through digital channels. This announcement was made by James Olany, Strategy & Business Manager at Equity Bank Uganda, during the Top 100 SME networking forum held at the Sheraton Kampala on…
Our goal is to ensure the integrity of the census data by replicating the enumeration process in all 135 districts and 11 cities across Uganda
Deputy Governor Bank of Uganda Michael Atingi-Ego, has restructured the top leadership of the Central bank
In a decisive move,the Bank of Uganda (BoU) has placed Mercantile Credit Bank Limited under liquidation, effectively revoking its license and ordering the wind-up of its operations. This decision, enacted under Sections 99 and 17 (b) & (f) of the Financial Institutions Act 2004 (as amended), stems from critical issues within the bank that pose…
