Politics & Policy

CompaniesPolitics & Policy

Banks should strengthen defences against fake news — Mutebile

In an address to the Uganda Bankers Association, the governor of the Bank of Uganda said false allegations to malign Dfcu had failed. He added that banks should do more to ward off reputational risk by, among other strategies, combatting fake news
A Dfcu Bank branch on Kampala Road
OpinionPolitics & Policy

BRICS Summit in Johannesburg: What we should expect from the 5 countries

The summit comes at a time when the West is arguably in decline. The US is threatening trade wars with China and even allies like the EU. This threat to global trade will be top of the agenda at the BRICS summit
Xi Jinping, China's president, and South Africa's Cyril Ramaphosa in Pretoria
Politics & Policy

Modi dangles Shs1 trillion for Uganda as China’s Xi woos Rwanda

Indian Prime Minister Narendra Modi is today afternoon expected in the country on a two-day state visit during which he will formalise a $205m (Shs1 trillion) credit line from India to Uganda
Sam Kutesa, Uganda's foreign minister, and India's prime minister, Narendra Modi, in New Delhi in 2014.
EconomyPolitics & Policy

Central Bank had to take over Crane Bank – Governor Mutebile

The intervention in Crane Bank, was the most difficult of these interventions and the one which was potentially the most problematic, because it was a large bank of systemic importance, and because of the huge magnitude of the losses it had incurred
Bank of Uganda governor, Emmanuel Tumusiime-Mutebile
CompaniesDigital EconomyPolitics & Policy

Prime minister, finance minister and IMF resident representative to speak at bankers’ conference

One of the things to watch out for at the annual bankers conference is what bankers say about the new levies on mobile money transactions, especially, which have become a central feature in their digital offerings, and excise duty increases
UBA poster for the 2018 Annual Bankers' Conference
EconomyOpinionPolitics & Policy

Kenya’s Perfect Storm

Annual rains have hit Kenya especially hard this year, causing havoc in the capital. But there is a silver lining amid the gloom: weather-related infrastructure challenges have pushed bureaucrats to tackle old issues like corruption and mismanagement with a renewed sense of urgency
Digital EconomyPolitics & Policy

Museveni calls 1% mobile money tax a mistake, orders for refund of deductions

First, President Museveni reduced the mobile money tax from the initial 1% of all transactions to 0.5% on transactions other than deposits. Now, he's explained his directive - calling the 1% levy a "mistake" and ordering a refund for those taxed at that rate
A mobile money agent in Gulu, Northern Uganda
Politics & Policy

Peace in South Sudan? Not without a stronger state and reconciliation

The Khartoum Declaration which was signed in June was a promising start but those who know South Sudan well, will know that its unlikely to last
Displaced persons in South Sudan
Digital EconomyEconomyPolitics & Policy

Mobile money dominates formal sector financial inclusion, limitations and all

Financial inclusion is low in Uganda because banks find it costly and unprofitable to extend services to rural areas. But even in urban areas, their services are expensive. Mobile money is the only financial service that has bucked those trends
Digital EconomyPolitics & Policy

Telecoms start collecting social media and mobile money taxes

The new measures, which went into effect on Sunday, include a 1% charge on every mobile money transaction and a Shs200 daily levy for the use of social media
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