Digitisation essential in tax administration, says URA

Uganda, Dec. 19 -- Uganda Revenue Authority (URA) has said digitisation of the financial sector will go a long way in facilitating e-commerce, which will eventually ease tax administration. Speaking ... Read More

Uganda registers Shs418b surplus in trade within EAC

Uganda, Dec. 19 -- Uganda's trade balance within the East African Community during October 2022, indicates that merchandise trade resulted in a surplus of $114.54 million (about Shs418.337 billion), a... Read More

World Bank tells Uganda to look for trade outside EAC

Uganda, Dec. 16 -- The World Bank has said Uganda, while it needs to maximise trade within East Africa, must improve in a number of areas that will help the country to benefit from large markets such ... Read More

BoU warns against high cost on digital payments

Uganda, Dec. 15 -- Bank of Uganda has said the high transaction cost on digital payment remains one of the several barriers to financial inclusion. Speaking during at a symposium about the Central Ba... Read More

Deposit Protection Fund now able to pay 20.9 million accounts

Uganda, Dec. 15 -- The Deposit Protection Fund (DPF) has indicated that deposits of at least 20.9 million account holders are now insured and can fully be paid in the unlikely failure of the banking s... Read More

Solve energy losses to achieve value for money - IMF tells govt

Uganda, Dec. 15 -- Government must address persistent energy losses and transmission challenges to reach higher levels of infrastructure quality that have a corresponding support to economic activity,... Read More

Inflation projected to drop to 8% next year

Uganda, Dec. 8 -- Bank of Uganda has said inflation is likely to drop to between 6 and 8 percent next year, before stabilising around the 5 percent target by end of 2023. The forecast is 2 percent lo... Read More

Govt used Shs1.4 trillion to pay interest on external debt in 2021 - World Bank

Uganda, Dec. 8 -- Uganda spent $380m (Shs1.4 trillion) on interest payment for its external debt during 2021, according to World Bank. The Shs1.4 trillion, World Bank noted, was an increase of $114m ... Read More

Shared agent banking service providers grow by 53 percent

Uganda, Dec. 7 -- The number of shared agent banking service providers has doubled, according to Bank of Uganda. Speaking during the Financial Stability Symposium, Mr Andrew Kawere, the Bank of Ugand... Read More

BoU maintains policy rate at 10% over slowdown in inflationary pressure

Uganda, Dec. 7 -- The Bank of Uganda has maintained its policy rate (Central Bank Rate) at 10 percent citing a slowdown in the inflationary pressure in the economy. Presenting the monetary policy sta... Read More