Finance & Banking
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Standard Chartered launches ‘Dream Big Employee Banking campaign’
KAMPALA– Standard Chartered Bank Uganda has today launched an employee banking campaign dubbed “Dream Big with Standard Chartered Bank.” According to the bank’s officials, the campaign which will run until March 31,…
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Gov’t starts payment of Shs 2.5 trn matured securities
KAMPALA– Government is to pay Shs2.5 trillion to the Bank of Uganda [BoU)]in matured securities after its repayment was disrupted by the advent of COVID-19. The money is a domestic loan acquired…
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Commercial banks continue to raise lending rates
In line with the tight monetary policy stance, lending rates in Uganda have exhibited an upward trend with commercial banks raising their prime lending rates by one percentage point on average, according…
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ECF: Uganda to receive over Shs 880bln from IMF
KAMPALA-Uganda stands to receive an additional US$ 240 million from the International Monetary Fund [IMF] under the Extended Credit Facility [ ECF ] approved by the IMF Executive Board on June 28,…
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UDB, Ojangole win second Global Sustainable Finance Award
KAMPALA-Uganda Development Bank [UDB] and its Managing Director, Patricia Ojangole were for the second time in a row named Sustainability Leader of the Year 2022 at the Karlsruhe Sustainability Awards Ceremony that…
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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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