Central Bank
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News
Tayebwa calls for increased investment in Uganda’s agriculture
KAMPALA, October 11, 2024 — The Deputy Speaker of Parliament, Thomas Tayebwa, has called for increased investment in Uganda’s agriculture, saying that the sector holds the key to the country’s economic transformation.…
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National
Banks moving towards meeting new paid-up capital requirement, says BoU
KAMPALA – According to Bank of Uganda [BoU], the implementation of the revised minimum paid-up capital requirements by commercial banks and credit institutions has been largely successful and remains on course. This…
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East Africa
Intra-EAC trade hits US$ 10 billion mark
KAMPALA-Intra-regional trade within the East African Community [EAC] is on an upward trajectory, standing at US$ 10.17 billion in September 2022. The intra-EAC trade, accounting for imports and exports in the seven…
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International
IMF grants Senegal credit extension until January 2023
DAKAR-The International Monetary Fund [IMF] days ago approved the Senegalese authorities’ request for an extension until January 10, 2023, of the country’s Stand-By Arrangement [SBA] and Arrangement Under the Standby Credit Facility…
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Development
BOU ramps up CBR again
KAMPALA– Bank of Uganda [ BOU ]raised the indicative Central Bank Rate [CBR] to 8.5 percent for July from 7.5 percent before, as inflation rose – for the second time in a…
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Finance & Banking
Banks endorse government plans to take idle cash on dormant accounts
KAMPALA – The Uganda Bankers’ Association (UBA) has endorsed the government plans to take cash considered “idle or dormant accounts” in all banks. In the new National Payments Systems Bill 2020, the…
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Cooperatives & Communities
Otuke district returns Shs 600m for teachers’ recruitment
OTUKE – Otuke district Local Government has returned Shs 600m which was released by the Ministry of Finance, Planning and Economic Development for the recruitment of teachers and payment of their salaries.…
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