Finance & Banking
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AfDB commits over Shs 1.1trn to renovate Kampala-Malaba railway line
KAMPALA-The African Development Bank [AfDB] Group is providing US$ 301 million [1.1 trillion] to overhaul the Kampala-Malaba Meter Gauge Railway [MGR] in Uganda. The railway line is part of the East African…
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Stock of outstanding credit falls- gov’t report
KAMPALA– The stock of outstanding private sector credit in Uganda decreased by 2.5 percent to Shs 19.6 trillion in September 2022 from Shs 20trn in August 2022, according to the October Performance…
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World Savings Day: BoU boss urges Ugandans to save for the future
KAMPALA-As countries celebrate World Savings Day which falls on October 31 every year, the Bank of Uganda [BoU] Deputy Governor, Michael Atingi-Ego has urged Ugandans to start saving now, saying savings help…
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Uganda scores high in 2022 Absa Africa Financial Markets Index
KAMPALA– African countries have responded positively to the need to develop domestic financial markets to protect economies from external shocks, Officicial Monetary Financial Institutions Forum [OMFIF] said as it released 2022 Absa…
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BoU CBR spiked to 10 percent as inflation rises again
KAMPALA-The Bank of Uganda [ BoU ] has in the Monetary Policy Statement [MPS] for October 2022, raised the Central Bank Rate [CBR] to 10 percent from 9 percent previously. That followed…
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NSSF members earn 9.65 percent interest rate on savings
KAMPALA-The National Social Security Fund [NSSF] has announced a 9.65 percent interest rate for its members for the year ended June 30, 2022. The interest rate to be paid to eligible members…
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Housing Finance Bank Uganda eases trading as it unveils gov’t securities portal
KAMPALA-Housing Finance Bank Uganda has launched the government securities portal for customers who invest in treasury bonds and bills to help government raise funds for its development activities. In 2020, the Bank…
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Govt has no debt with us, Bank of Uganda says
KAMPALA-The Bank of Uganda [ BoU ] in the latest media statement has come out to refute claims that government excessively borrowed money from the institution and failed to pay it back.…
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Standard Chartered Bank launches Shs 970mln Youth in Agribusiness Project in Lira
LIRA-Standard Chartered Bank and Cordaid, in partnership with Youth Business International [YBI], have launched ‘Youth in Agribusiness Project’ funded by Standard Chartered Foundation to support young entrepreneurs to revive, strengthen, and build…
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Absa Africa Financial Markets Index Launch 2022 set for October
LONDON- The launch of Absa Africa Financial Markets Index 2022 is slated for October 13, 2022, according to the Official Monetary Financial Institution Forum [OMFIF], the producers of the index. Since its…
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