Bank of Uganda
Uganda’s growth unlikely to return to pre-pandemic levels until 2024
Central bank governor says tourism sector has been hit by Covid containment measures
Uganda’s central bank cuts rates to historic lows
Uncertainty around the future path of Covid-19 weighs on growth prospects, governor says
Ugandan governor given fifth term following national election
Uncertainty surrounds timing of Mutebile’s return to office, as deputy steps in at latest MPC meeting
Vaccine would speed up recovery, Bank of Uganda reports
Higher levels of NPLs and high lending rates are hampering growth, report says, but vaccine could result in swift recovery
Bank of Uganda cuts rate and warns of lasting disruption
Central bank cuts rates and narrows target band, as impact of Covid-19 in Uganda continues to play out
Bank of Uganda implements 100bp rate cut
Rate setters think below-target inflation offers opportunity to support economic growth
Bank of Uganda poised to take control of mobile money services
Deputy governor stresses need for regulation in financial institutions
Uganda’s Tumusiime-Mutebile raises concerns about growth
African country’s growth momentum looks set to stall as global uncertainty weighs on economy
Bank of Uganda hikes rates for first time since 2015
Rising oil prices and exchange rate volatility prompt central bank action
Uganda keeps rates on hold despite rising core inflation
Policy necessary to ensure “sustainable growth”, governor says
Ugandan governor says central bank not ‘obliged’ to bail out banks
Bailouts could encourage mismanagement, he says
Bank of Uganda launches electronic cheque-clearing system
It aims to make cheque processing faster, cheaper and safer; banks will transfer UV images of cheques to highlight tampering
Bank of Uganda governor hits back at mismanagement claims
Central bank and government ombudsman are locked in conflict over a staff reshuffle
Bank of Uganda warns on debt levels
Debt levels could be closer to 50% of GDP if undisbursed loans are taken into account; government upgrades risk of debt distress to “moderate”
Ugandan stress tests reveal banking sector vulnerabilities
Banking sector could face a loss of $140 million if three largest banks default; governor says it has been a “difficult year” for banks
Uganda central bank sues Crane Bank director for over $100m
Bank of Uganda investigation finds troubled Crane Bank owned wholly by one person; third party to file action against the central bank for negligence in handling Crane saga
Bank of Uganda officials to head new deposit insurance fund
Team from the Bank of Uganda to lead the fund in the interim as it relaunches following its separation from the central bank
Uganda will ‘claw back’ losses – Tumusiime-Mutebile
Ugandan governor remains upbeat about the country’s growth, with new figures showing recovery in both the services and industrial sectors; he urges people to ignore pessimistic media reports
Bank of Uganda cuts rate as inflation outlook improves
The near-term inflation outlook worsens, but latest forecasts shows recovery within the target band; the IMF’s Lagarde praises the central bank for its “prudent” approach
African central banks have cut euro exposures, says Uganda’s Kavuma
Combination of negative interest rates and falling reserves hit euro holdings but most central banks still avoid investments within Africa
Ugandan governor emphasises banking system is sound
Tumusiime-Mutebile steps in to calm investors, dismissing negative reports following the acquisition of Crane Bank; banking system is “stable, sound and profitable”, he says
Bank of Uganda takes control of large commercial bank
Ugandan central bank takes over the management of Crane Bank, the commercial bank; clarification issued over use of governor’s signature
Still room to support domestic economic growth after cut, says Ugandan governor
Exchange rate movements remain key risk to inflation, says Tumusiime-Mutebile, as Bank of Uganda cuts interest rates by 100bps
East African governors praised for balancing act
Central bank heads in region have “done extremely well”, Kaberuka says; panellists at Bank of Uganda event debate central bank mandates and role in development