Ugandan Shilling Ends April Steady as Dollar Inflows Bolster FX Market
The Ugandan shilling closed April trading steady within the 3655–3670 range, supported by dollar inflows from commodity exporters and offshore investors, according to Richard Nsubuga, Acting Head of Trading at Absa Bank Uganda. Demand for hard currency remained subdued throughout the week. Looking ahead, we anticipate the shilling will retain
Court Orders DFCU Bank to Pay Shs 810 million Over Disputed Nakwero Land
The High Court Judge Susan Abinyo has ordered DFCU Bank to pay Shs 810 million in general damages to 27 claimants in a long-standing land dispute concerning property in Nakwero. In June 2012, Hosanna Real Estates Limited obtained a Shs 2.5 billion loan from Global Trust Bank Uganda Limited (GTB),
Pride Microfinance Transitions to Pride Bank Limited Following Tier II License Approval
Pride Microfinance has officially transitioned to a Tier II credit institution and will now operate as Pride Bank Limited, marking a new chapter of expanded services, enhanced customer experience, and a deeper contribution to Uganda’s financial ecosystem. The announcement was made at Serena Hotel following the acquisition of a Credit
Ugandan Shilling Remains Steady Amid Balanced Currency Flows and Improved Market Liquidity
The Ugandan shilling held firm against the US dollar throughout the week, trading within a narrow and stable range. This stability was supported by balanced activity between buyers and sellers in the foreign exchange market, according to Catherine Kijjagulwe, Acting Head of Markets at Absa Bank Uganda. Commodity-related inflows were
Ugandan Shilling Stabilizes Amid Balanced Market Activity and Central Bank Intervention
The Ugandan shilling maintained a stable trading range between 3660 and 3675, supported by subdued and balanced market activity. This stability follows a significant market correction from last week’s local unit lows of 3730/3740, and a gradual appreciation that closed the week at 3660/3670. The Bank of Uganda intervened in
Hellen Alaba Wins 19-Year Pension Dispute Against Bank of Uganda
In a landmark ruling delivered by the Industrial Court of Uganda, Hellen Alaba, a former Banking Assistant at the Bank of Uganda (BOU), emerged victorious in her 19-year legal battle for retirement benefits. The court ruled that Alaba is entitled to her accrued pension benefits for her service between May
Shilling Strengthens Amid Robust Currency Inflows, Market Eyes US Tariff Impact
The shilling demonstrated strength throughout the week, supported by robust inflows of hard currency, despite subdued corporate demand. At the start of the month, the exchange rate stood at 3660/3670. By mid-week, it appreciated to a yearly high of 3640/3650, attracting buyers from the energy and offshore sectors before closing
Deputy Governor Prof. Nuwagaba assumes office following Museveni’s Clearance
The newly appointed Deputy Governor of the Bank of Uganda, Prof. Augustus Nuwagaba, has assumed office following President Yoweri Museveni’s clearance. Nuwagaba assumed office on Monday following his appointment and subsequent vetting. A source said several groups of people petitioned president Yoweri Museveni over his qualifications. They claimed that the
BoU Fraudulent Payment: Court Releases Accountant General, Five Others
High Court has released Accountant General Lawrence Ssemakula and five others implicated in the fraudulent payment of Shs 60 billion by the Bank of Uganda. Ssemakula was released alongside Commissioner of Treasury Services Jennifer Muhuruzi, as well as Judith Ashaba, Dorothy Kusiima, Betinah Nayebare, and Nkakubo Lumala. Appearing before Justice
IMF calls for review of Uganda’s anti-money laundering and financing of terrorism frameworks
The International Monetary Fund (IMF) has called for a review of the legal ambiguities and deficiencies within Uganda’s Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) framework. The IMF said barely a year after the delisting of Uganda off the Financial Action Task Force’s (FATF) Grey List. In February
