Mps on the National Economy committee have grilled officials of Bank of Uganda led by the Director in charge of supervision Justine Bagyenda over looking on as commercial banks are causing businesses to close down by charging high interest rates. Appearing before the committee chaired by Buliisa county Stephen mukitale wondered how commercial banks charge […]
The acting governor bank of Uganda Justine Bagenda has re echoed the central banks concerns over the slow response by some commercial banks in reducing their interest rates despite the decrease in Central Bank Rate. This was during the central banks officials interface with the members of parliament on the parliamentary committee on national economy […]
The Governor of bank of Uganda Emmanuel Mutebile says he is happy with the reductions in lending rates made by commercial banks. A number of commercial banks have been cutting lending rates following continued appeals by the governor over high lending rates despite cuts in central bank rates. Announcing the monthly central bank rate Mutebile […]
The governor bank of Uganda Tumusiime Mutebile has ordered commercial banks to reduce their lending rates because the Central Bank has also lowered the Central Bank Rate. The rate at which Bank of Uganda lends to commercial banks standards at 17% in this month of August 2012 down from 19% in July the same […]
We have been told that the governor Bank of Uganda is planning to launch a new 100,000 shillings banknote at the Bank of Uganda head offices in Kampala. The date for the launch is still not clear as the new banknote is still under discussion. So soon Ugandans on the ground will be receiving […]
The Chairman of Kampala City Traders’ Association Everest Kayondo says they are not satisfied with the out come of their recent strike. Kayondo says that despite having resumed business, the traders still need to put more pressure on the government to put a ceiling on the interest rates commercial banks charge on loans. The traders […]
Hundreds of shops in Kampala, Mityana, Masaka and Mubende district have been closed as traders under their umbrella association of Kampala City Traders Association (KACITA) started their three-day sit down strike protesting against high interest rates charged on loans by commercial banks. The commercial banks operating in Uganda charge over 27% on loans. Our reporters […]
Hundreds of shops in Kampala, Mityana, Masaka and Mubende district have been closed as traders under their umbrella association of Kampala City Traders Association (KACITA) started their three-day sit down strike protesting against high interest rates charged on loans by commercial banks. The commercial banks operating in Uganda charge over 27% on loans. Our reporters […]
Gulf Air has launched flights to and from Entebbe International Airport to several destinations in Asia. The company announced that Entebbe is their third East African operation with four non-stop weekly flights between Entebbe and Bahrain. The inaugural flight GF719 from Bahrain International Airport landed in Entebbe International Airport at 15.45 PM on 5th December […]