Finance

By Andrew Besi

“We must stop merely talking about corruption in passing and realise that corruption is a societal curse.”  Hon. Janet K Museveni, 5th June 2024.

The Bank of Uganda (BoU) has taken decisive action against Mercantile Credit Bank Limited, announcing the revocation of the bank's license and its placement under liquidation, effective immediately.

By Emmy Paul Opolot

SACCOs, an abbreviation for “Savings and Credit Co-operatives Societies”, stands as one of Uganda’s vibrant pillars of sustainable development in the national plan.

Bank of Uganda (BoU) has closed EFC Uganda Limited, also known as EFC Uganda, a microfinance deposit-taking institution in Uganda. 

BoU in a statement released on Friday says they have withdrawn EFC Uganda's licence and liquidated the financial institution. 

Government has initiated the budget approval process for financial year 2024/2025 through tabling of the National Budget Framework Paper (BFP) amounting Shs52.7 trillion. 

By Ddungu Jordan

Bank of Uganda has issued the first Islamic banking licence to Salaam Bank Limited.

The Inspector General of Government Beti Kamya has ordered the former Managing  Director for NSSF Richard Byarugaba together with the Director Finance Stevens Mwaje to refund UGX4.4 billion and another UGX 687.3million or risk facing prosecution.

By Dennis Katungi

Topic: Execution: Getting Things Done in 2023

With the irony of NSSF lately featuring in the Press for the wrong reasons - Mr Patrick Ayota still captivated the audience at Serena Hotel on Tuesday 14th March. 

Uganda Development Bank (UDB) was established in 1972 by a presidential decree purposely to finance technically feasible, economically viable, and socially desirable projects.