Tag: Bank of Uganda

Massive Fire Guts Lavish Turkish Ski Hotel, Kills 66 People

Sixty-six people have been reported dead and over 32 others left injured in a fire that erupted at a popular ski resort hotel in the Bolu province in Northwestern Turkey. This incident happened on January 21, 2025,...

FDC Okays Mpuuga’s Electoral Proposals in Struggle for Political Change

National News

The opposition party, Forum for Democratic Change (FDC), has declared support for the proposed electoral reforms presented by Democratic Alliance leader Mathias Mpuuga. Speaking at a press conference on January 21, 2025, at the party's headquarters in...

Business

Gov’t Set to Bolster BOU Proposal on Domestic Gold...

Government has defended the Bank of Uganda's (BOU) proposal to support the local gold market through securing purchases from...

Crime

Government should Empower Citizens to Tackle Cyber Threats—Experts

Recently there was an attack on Bank of Uganda, where over UGX 60 billion was stolen by hackers, which many cyber experts say could have resulted from human error, and it could have been prevented had there been strong cybersecurity mechanisms.

Business

Uganda’s Inflation Drop Attributed to Reduced Commodity Prices—Finance Report

Uganda’s imports from the East African Community region decreased by 2.8% to USD 264.10 million in September 2024, down from USD 271.62 million the previous month. Exports to the region also declined by 1.0% from USD 197.23 million to USD 195.22 million over the same period.

Business

MERCANTILE CREDIT BANK CLOSURE: DPF Commences Repayment of Depositors

Mercantile Credit Bank Limited depositors with balances of UGX 1 million and below will receive their payment through mobile money.

Business

BOU Dissolves Mercantile Credit Bank Limited

“All creditors are requested to submit their claims to the office of the Director, Financial Stability, and Bank of Uganda within 30 days from the date the statement was issued, and any person possessing property of Mercantile Credit Bank Limited should deliver it to the director, Finance and Stability, Bank of Uganda.”

Opinion