Bank clients in Uganda have called upon government to set up an independent body to conduct a special audit into the operations of the Central Bank and the commercial banks in the country. The call has been made by the chairperson of the Bank Customers’ Rights Protection Organisation, Nabunya Ntege at a time the central […]
The executive director Private Sector Foundation Uganda, Gideon Badagawa, warns government about the continuous exploitation of commercial banks by hiking the interest rate which scares away potential investors from taking loans. Badagawa continues to state that there are a very few development banks that are offering development lending which can be utilized by investors who […]
As a result of the recent hikes of interest rates in the market, many corporate businesses are encountering difficulties in paying back the loans they have acquired from the commercial banks. A couple of weeks back, the traders in Uganda through their umbrella association of ‘Kampala City Traders Association’ staged a sit-down strike protesting against […]
It seems the youths across the country are full of smiles since the government has announced that they can access low interest loans from banks starting by next week. The government has put a side 25 billion shillings for the youth to borrow. The minister for finance, Miria Kiwanuka says that the youths can access […]
The government ofUgandahas agreed with commercial banks to fix interest rates to be charged on money given out to the youth in form of loans. The minister ofUgandafor Finance Minister, Maria Kiwanuka says that the banks will charge 15% for a period of six months. Some of the banks the government has agreed with include […]
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 […]
Ugandagovernment has lost over 6 billion shillings during the three day traders strike in Kampala Capital City Authority. On Wednesday this week thousands of Traders inUgandaespecially inKampalaclosed their shops protesting against the high interest rates commercial banks charge on loans. The traders strike was peaceful although the police arrested some of the traders it suspected […]
The governor bank ofUganda, Tumusiime Mutebile has informed the members of the public that all regulated financial institutions which include commercial banks, credit institutions and microfinance deposit taking institutions inUgandaare safe and strong and have the backing of the central bank ofUganda. Speaking to journalists at the Bank of Uganda headquarters inKampalatoday, Tumusiime said that […]
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 […]