Businessman Hassan Basajjabalaba has told Parliament’s Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) that government has three ways to resolve his long-standing compensation claim. He said government should either pay him the balance it owes, negotiate a refund and take back its property, or ask him to stop investing in the disputed properties…
Bank of Uganda Governor Dr Michael Atingi-Ego has urged government to exercise greater fiscal discipline when planning and implementing public expenditure, warning that spending outside the approved budget could undermine efforts to maintain economic stability. Atingi-Ego made the call while appearing before Parliament’s Budget committee to give the central bank’s views on the proposed Charter…
MPs have grilled Bank of Uganda officials over allegations that the central bank’s financial control systems were hacked, with MPs saying the claims had raised concerns about the safety of public money. The officials, led by Bank of Uganda Governor Michael Atingi-Ego, appeared before the Committee on Statutory Authorities and State Enterprises (COSASE), chaired by…
The Bank of Uganda has assured central bank governors from across the East African Community (EAC) that interest rates remain stable across the region, strengthening efforts to establish the long-awaited East African Monetary Union. The assurance was given by the Governor of the Bank of Uganda, Dr Michael Atingi-Ego, who also chairs the EAC Monetary…
South Sudan has reaffirmed its commitment to the East African Community’s plan to establish a Monetary Union by 2031. Speaking at the 29th Ordinary Meeting of the East African Community Monetary Affairs Committee in Kampala on Friday, the Deputy Governor of the Bank of South Sudan, Weituy Luony Babouth, said the committee remains a key…
Equity Bank Uganda increased its loans and customer deposits in the first quarter of 2026, even as the Bank of Uganda moved to tighten liquidity in the financial sector. Figures released in Equity Group Holdings Plc’s investor briefing show that the bank’s net loans rose by 5% over the year, reaching about Shs 1.42 trillion…
Mulago Hospital has received three golf carts from the Bank of Uganda in a move aimed at improving transportation and emergency services within the country’s largest public health facility. The golf carts, which can each carry up to eight people, are expected to ease movement of patients, nurses, medical samples and other hospital staff between…
The Bank of Uganda has urged the public to use their resources sparingly as fears grow over a possible fuel crisis in the country. The warning comes amid rising pump prices, with some petrol stations reportedly closing due to shortages, while others have increased prices in response to limited supply. Speaking on the situation, Wasswa…
The Bank of Uganda, in partnership with Kampala Club, has launched the third edition of the Emmanuel Tumusiime-Mutebile Memorial Squash Tournament, scheduled to run from April 13 to April 18. The annual tournament honours Mutebile, the former governor of the central bank, for his contribution to Uganda’s economic development and his long-standing relationship with Kampala…
The Bank of Uganda has handed over 17 patient monitors to the Ministry of Health as part of efforts to promote safe motherhood and reduce maternal and newborn deaths in hard-to-reach health facilities across the country. Speaking during the handover at the ministry headquarters in Kampala, Bank of Uganda secretary Susan Kanyemibwa said the donation…
The Bank of Uganda has paid tribute to former governor Dr Emmanuel Tumusiime Mutebile, celebrating his legacy as one of the country’s most influential economic reformers at this year’s memorial lecture held at Makerere University. The event drew several dignitaries from government, academia and the business community. Those in attendance included the current Bank of…
The Supreme Court has ordered Bank of Uganda to pay businessman Sudhir Ruparelia and his firm Meera Investments Ltd Shs 1 billion as legal costs in their long-running dispute over the closure of Crane Bank. The conflict began in 2016 when the Bank of Uganda placed Crane Bank under receivership due to financial irregularities. In…
Once upon a time in Kampala, Uganda there was a bank called Commercial Bank of Africa (CBA) and a company named Kare Distribution Ltd. They had done business together, involving loans and accounts, but things went sour. In 2018, they ended up in a lower court to sort out their disagreement. Instead of fighting it…
