Tag Archives: BoU

The Bank of Uganda (BoU) has announced fresh restrictions on over-the-counter cash withdrawals, introducing daily caps of Shs50 million for individuals and Shs500 million for businesses as part of efforts to promote a cashless economy. In a directive circulated to commercial banks, credit institutions, and microfinance deposit-taking institutions, the central bank indicated that the new measures will come into force …

The Bank of Uganda has granted regulatory approval for Standard Chartered Bank Uganda to sell its Wealth and Retail Banking (WRB) business to Absa Bank Uganda Limited, ending months of discussions over a transaction that could realign the country’s financial industry. For Absa, the deal is the latest move in a deliberate pan-African march. The financial institution, which is listed …

Viewers: 90,000 By Spy Uganda What is billed as a shield for Uganda’s sovereignty may instead rattle its economic foundations, Bank of Uganda Governor Michael Atingi-Ego and Deputy Governor Augustus Niwagaba warned, citing risks of capital flight, reserve depletion, and rising debt costs. The bill, tabled on April 15 by State Minister for Internal Affairs Gen. David Muhoozi, seeks …

As mobile money services finally flicker back to life, one thing remains completely offline: accountability. For nearly a week during the tense election period, millions of Ugandans were left stranded — unable to withdraw their own money, forced to beg agents, ration transactions, or in some cases cross into Kenya just to access cash. Yet as the dust settles, no …