When Henry Musasizi, the finance minister, told Journalists on the sidelines of the Uganda Development Bank’s annual general meeting that he wants the bank’s lending rate to fall from 12% toward single digits, he seemed to describe a goal that sits awkwardly next to his own ministry’s borrowing habits. Commercial banks charge businesses an average…
Housing Finance Bank has appointed Robert M. Kusiima Mugabe as its new Chief Operations Officer (COO), bringing more than 18 years of banking experience to the role as the Bank steps up efforts to improve efficiency, strengthen its operations and expand digital services. Robert has worked across several areas of banking, including operations, treasury, balance…
Minister of Trade, Industry and Cooperatives Sanjay Tanna has challenged the Board of Directors of the Uganda Industrial Research Institute (UIRI) to expand the institution’s reach, improve service delivery and ensure more innovations developed at the institute reach the market. Tanna made the remarks during a meeting at UIRI’s Machining, Manufacturing and Industrial Skills Development…
CNOOC Uganda Limited (CUL) today joined by the Petroleum Authority of Uganda (PAU), the Uganda National Oil Company (UNOC), Total Energies EP Uganda (TEPU), EACOP Ltd, Government institutions, local leaders and host communities in commemorating the 2026 Joint Oil and Gas Sector World Environment Day in Kikuube District. Held under the theme “Answering the Climate…
The Uganda shilling remained largely unchanged against the US dollar during Thursday trading session, hovering around 3705/3715 in a quiet market environment. According to Absa Bank report, balanced demand and supply dynamics in the interbank market kept the currency trading within a narrow range. Liquidity conditions in the money market continued to improve, supported by…
The Uganda shilling posted notable gains against the US dollar during today’s session, closing firmer at 3705/3715 from opening levels of 3720/3730. The move was largely supported by strong dollar supply on the interbank market. Furthermore, mid-month tax remittances underpinned demand for the local currency, while corporate dollar demand remained largely on the sidelines. In…
Standard Chartered Bank Uganda is marking a historic 114 years of operations in the country, cementing its status as Uganda’s longest-established international commercial bank. Since opening its first branch in Kampala in August 1912, the bank has transitioned from the early days of trade to become a cornerstone of Uganda’s modern, connected economy. A Legacy…
The Bank of Uganda governor told delegates at the inaugural National Cybersecurity Conference on Tuesday that cybersecurity should be treated as core national infrastructure rather than an IT problem. Cybersecurity is the practice of protecting computers, networks, and data from digital attacks. On the other hand, Cybercrime is the illegal use of technology to commit…
The Bank of Uganda has licensed two more large Savings and Credit Cooperative Organisations (SACCOs), bringing the number of large SACCOs under its direct supervision to six. The newly licensed SACCOs are Share An Opportunity SACCO, based in Zirobwe, and Kihondo Tukwatanize SACCO, based in Fort Portal. The licences were presented on Thursday, August 6,…
The Uganda shilling traded within a narrow range against the US dollar during today’s session, holding steady around 3720/3730 amid subdued market activity. The currency remained range-bound as balanced demand and supply conditions in the interbank market kept movements contained. In the money markets, liquidity conditions remained ample, with overnight and one-week funding rates averaging…
