President Museveni has vowed to crack down on exploitative money lenders, who he said take advantage of ignorant and desperate people . The President said his government would push for the enactment of a law to fight the vice. “Money lenders are becoming a problem. They go to our v
Commercial banks hold the largest share of government’s domestic debt, according to the Debt Statistical Bulletin and Public Debt Portfolio Analysis by the Ministry of Finance. The analysis, which seeks to provide accurate and timely debt statistics, crucial for assessing the country
The Ministry of Water and Environment is seeking Shs135 billion from the government to fund desilting and flood protection measures along River Nyamwamba in Kasese District. This river has repeatedly flooded in recent years, causing significant loss of life and property. This request
The Ugandan shilling and stock market experienced slight improvements on Wednesday, with modest gains recorded in both sectors. The shilling closed the day stronger at 3688/3698, up from its opening position of 3695/3705, while trading at the Uganda Securities Exchange (USE) saw five counters involv
The ratio of non-performing loans declined to 4.9 percent in the quarter ended June compared to 5.2 percent in March. In its Monetary Policy Report for the period ended June, Bank of Uganda indicated that the decline was largely registered among shilling-denominated facilities for which
Tax controversies have recently stirred debate across the country, with the country’s tax body – the Uganda Revenue Authority (URA)—and the National Treasury struggling to justify certain tax breaks to particular companies while in the National Assembly. In a new twist, the two age
The Executive Director Uganda Microfinance Regulatory Authority (UMRA) says 86 percent of the borrowing in Uganda is happening in the Tier IV sector “A recent study shows that most Ugandans have ditched banks for Microfinance Deposit-taking Institutions (MDIs),” Ms Edith Namugga Tusu
Enforcement of publicly funded projects and related investment is underperforming, according to National Planning Authority (NPA). The NPA assessment report further discloses laxity in the manner in which development projects, the majority of which are funded by international partners an
The annual debt statistical bulletin and public debt portfolio analysis by the Ministry of Finance indicates that the stock of domestic debt rose from Shs34.5 trillion in June 2023 to Shs40.6 trillion in June 2024, representing a growth of 5 percent. The increase represents a rise of dom
Traditionally, investment clubs were small, community-based groups that met regularly to discuss opportunities and pool their resources into low-risk ventures. Today, this landscape has evolved. Modern investment clubs are now boldly pooling funds to venture into higher-risk assets and f
