Kampala, Uganda – The Bank of Uganda (BoU) has addressed growing concerns over the disappearance of billions of shillings in fraudulent transactions, revealing shocking details during a press briefing held on December 5, 2024. Deputy Governor Michael Atingi-Ego confirmed that two major fraudulent incidents had occurred, involving funds provided by the World Bank and the…
Tag: Bank of Uganda
Uganda’s central bank buys local gold to boost forex reserves.
In a strategic move aimed at enhancing Uganda’s foreign exchange reserves, the Bank of Uganda has launched a significant initiative to purchase locally-produced gold. This decision marks a pivotal step towards stabilizing the country’s economy and strengthening its position in the global market. The announcement came directly from the Governor of the Bank of Uganda,…
Ugandans Worried about country’s Shs80 Trillion Public Debt
By E K Benj & Aether Wadero Bank of Uganda (BoU) Deputy Governor Michael Ating-Ego yesterday revealed to legislators on Parliament’s Committee on Finance that Uganda’s public debt now stands at Shs80 trillion. Mr Ating-Ego was interfacing with the committee after the lawmakers invited him to explain the current double-digit inflation and the deteriorating economic…
Business Tycoon Sudhir wins court case against Uganda’s central bank
Updated at 1729 EAT on FEB 11th 2022 The supreme court has dismissed with costs an appeal by Bank of Uganda against Business tycoon Sudhir and his company, Meera Investment Limited The court Ruling ordering the Central Bank of Uganda to pay the costs of the appeal at all court levels, right from the Commercial…
World Bank, IMF Mourn Governor Emmanuel Mutebile
Updated at 1123 EAT on Sunday 23rd January 2022 By E K Benj @kivumbi The World Bank and International Monitory Fund – IMF family is disturbed by news of fallen Bank of Uganda Governor, Emmanuel Tumusime Mutebile . In a statement released earlier, Bank of Uganda said “It’s of profound sadness that the Bank of…
HICGI News Agency 