Banking Sector

Economy

Financial sector is stable, Bank of Uganda says

The Central Bank released a statement on Monday disputing social media rumours on the state of the financial sector. Signed by the bank's director of communications, the statement says "the financial sector as a whole is stable, sound and resilient."
Economy

Banks and Visa seek slice of maturing mobile money sector

Stanbic's platform is the second mobile banking product after MoKash, a partnership between MTN and Commercial Bank of Africa which launched in August. Kenya's Equity Bank is also exploring the possibility of extending its Equitel service to Uganda.
EconomyPolitics & Policy

The central bank’s stand against capping interest rates

The most vocal opposition to an interest rate cap law has not come from commercial banks, but from their regulator, the Bank of Uganda. The bank's core argument is that controlling interest rates would be moving away from economic liberalisation.
Bank of Uganda's headquarters in Kampala
Companies

We have not approved Crane Bank sale – Bank of Uganda statement

Bank of Uganda has not received any request from Crane Bank to approve a change in shareholding. Should such a request be received, the proposed shareholders will be vetted for "fit and proper" credentials.
Companies

Bank of Uganda has not approved Crane Bank sale, official says

Bank of Uganda is not aware of Crane Bank's planned merger, and has not approved a sale of the bank, according to Benedict Sekabira, the director commercial banking at Bank of Uganda.
Companies

Crane Bank denies rumours of sale, says in merger talks with “strategic equity investor”

Crane Bank Uganda was Thursday forced to deny rumours that it is up for sale, saying instead that is merging with a "strategic equity investor." A report circulating on social media said the bank has sold 70% of its shares to South African investors.
Economy

Commercial banks cut lending rates, but cautiously

A survey of commercial banks shows that a good number of them have cut their prime lending rate, a sign the Bank of Uganda's three consecutive rate cuts are having an effect.
A retail shopping centre in downtown Kampala, Uganda
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