Michael Atingi News Today

The need for a single currency across East Africa arises from the goals of fostering regional integration, enhancing economic stability, and facilitating trade by eliminating currency exchange...

The Bank of Uganda has increased its interest rates for the second straight month to 10.25% from 10% —the highest point in nearly seven years.

Many banks have had to mobilise huge amounts of capital within a short period to meet the new paid-up capital of Shs150b by June

Three commercial banks in Uganda will transition from Tier I commercial banks to Tier II credit institutions, the Bank of Uganda said in a statement on Wednesday. The three institutions, ABC Capital Bank, Guaranty Trust Bank and Opportunity Bank, now have three months to make the transition. This will include phasing out products and processes

He alleges that the death of a BoU governor renders the deputy governor devoid of any constitutional or statutory authority to sign on currency notes

The Uganda Bankers’ Association has issued guidelines on how to mitigate fraud within Uganda’s financial sector, with one of the proposals entailing all commercial banks to blacklist customers, staff and collaborators convicted of fraud. The revelation was made by Sarah Arapta, Chairperson, Uganda Bankers’ Association, while unveiling the Banking Industry Guidelines on Mitigation of Fraud

Kenya and Malawi are the latest countries to surprise the markets with policy tightening, with price inflation and currency weakness remaining concerns in both countries.

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The central bank said that it expected economic growth of around 6 percent in the current fiscal year that ends in June.

KAMPALA, Feb. 6 (Xinhua) -- The Bank of Uganda (BoU), the central bank, announced Tuesday that it would maintain its policy rate at 9.5 percent, citing its continued effectiveness in controlling inflation.