Xente Tech Ltd, a financial technology platform that simplifies payments and finance for businesses, has obtained the Payment Systems Operator (PSO) license from Bank of Uganda. The National Payment System Act-2020, implemented under the National Payment Systems Regulations, seeks to…
Uganda’s commercial banks are planning to provide Shs 1 Trillion in export credit facility to help local manufacturers boost their access to the regional markets. Sarah Arapta, the chairperson of Uganda Bankers Association said during the 5th Annual Bankers Conference…
Housing Finance Bank together with the Parliamentary Forum on Labor, Decent Employment, and Productivity and the Bank of Uganda, this morning facilitated a Breakfast Meeting on enhancing Foreign Direct Investments (FDI) into the country. The meeting, held at the at…
State Minister for Planning Amos Lugoloobi has said Covid-19 related borrowing resulted into higher debt levels with the current debt ratio to gross domestic product (GDP) growing to at least 54%. Speaking at the launch of the National Development Plan…
The Supreme Court decision directing that Crane Bank Ltd be reverted to its owners has raised a lot of mixed feelings, for it comes with a legal and cost implication which in one way or another will affect the ordinary…
Fifteen Ugandan banks have signed onto the TradeClear platform to ease and boost interbank trade within the country. TradeClear is an interbank trading platform managed by financial services company Frontclear and is regulated by Bank of Uganda and overseen by…
Kin Kariisa has ended his 10 years on the board of Ecobank Uganda, a subsidiary of Ecobank Transnational Incorporated (ETI), one of Africa’s largest financial brands, leaving behind a well-entrenched bank, with great growth prospects. Kariisa who joined the bank’s…
Stanbic Uganda Holdings Limited (SUHL) has announced it grew its net profits by 11% in 2021 to earn Ushs. 269billion from Ush.242bn in 2020, driven mainly by strong growth in non-interest income earned by mostly Stanbic Bank Uganda Limited, its…
Over the last two years, the COVID-19 pandemic impacted businesses on national and global scale. Governments in many developing countries introduced severe containment measures, involving restrictions on economic activity and mobility, to curb the spread of COVID-19. In Uganda, public transport…
SafeBoda has announced a new partnership with Rubis Energy Uganda where customers and drivers will enjoy great discounts when purchasing fuel at Rubis stations. SafeBoda recently acquired a National Payments Services license from Bank of Uganda which allowed the company to…
Michael Atingi-Ego, the Deputy Governor of Bank of Uganda, said, “Uganda’s inspirational ranking amidst a raging Covid-19 pandemic should galvanize us to sustain the good policies and interventions as well as to undertake the strategies that will unleash the power…
The Deposit Protection Fund (DPF) has revealed that it has about 20.1 billion which is supposed to be paid to shareholders and depositors of closed financial institutions upon the conclusion of liquidation processes by the Bank of Uganda (BOU) In…
Data from Bank of Uganda shows that loan applications and approvals fell in the last quarter ended August 2021 The Central Bank says that the fall was a result of the slow pace in economic recovery with banks remaining cautious…
Pegasus Technologies Limited, a locally founded Ugandan company, is now the fifth company to receive a license from the Bank of Uganda (BOU) to operate as a Payment Service Operator (PSO), having fulfilled the rigorous requirements of the National Payments…