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Central Bank had to take over Crane Bank – Governor Mutebile
The intervention in Crane Bank, was the most difficult of these interventions and the one which was potentially the most problematic, because it was a large bank of systemic importance, and because of the huge magnitude of the losses it had incurred
July 18, 2018
Companies
Digital Economy
Politics & Policy
Prime minister, finance minister and IMF resident representative to speak at bankers’ conference
One of the things to watch out for at the annual bankers conference is what bankers say about the new levies on mobile money transactions, especially, which have become a central feature in their digital offerings, and excise duty increases
July 17, 2018
Economy
Opinion
Politics & Policy
Kenya’s Perfect Storm
Annual rains have hit Kenya especially hard this year, causing havoc in the capital. But there is a silver lining amid the gloom: weather-related infrastructure challenges have pushed bureaucrats to tackle old issues like corruption and mismanagement with a renewed sense of urgency
July 13, 2018
Digital Economy
Politics & Policy
Museveni calls 1% mobile money tax a mistake, orders for refund of deductions
First, President Museveni reduced the mobile money tax from the initial 1% of all transactions to 0.5% on transactions other than deposits. Now, he's explained his directive - calling the 1% levy a "mistake" and ordering a refund for those taxed at that rate
July 12, 2018
Politics & Policy
Peace in South Sudan? Not without a stronger state and reconciliation
The Khartoum Declaration which was signed in June was a promising start but those who know South Sudan well, will know that its unlikely to last
July 10, 2018
Digital Economy
Economy
Politics & Policy
Mobile money dominates formal sector financial inclusion, limitations and all
Financial inclusion is low in Uganda because banks find it costly and unprofitable to extend services to rural areas. But even in urban areas, their services are expensive. Mobile money is the only financial service that has bucked those trends
July 2, 2018
Digital Economy
Politics & Policy
Telecoms start collecting social media and mobile money taxes
The new measures, which went into effect on Sunday, include a 1% charge on every mobile money transaction and a Shs200 daily levy for the use of social media
July 1, 2018
Politics & Policy
Museveni wants URA to open a customs office at Mombasa to ease cargo clearing
At a regional summit in Nairobi, President Museveni directed the Ugandan Revenue Authority to open a customs station at Mombasa port to ensure that there is no backlog of cargo destined to Uganda
June 27, 2018
Politics & Policy
No bank has applied for Islamic banking licence – BoU
No bank has formally applied for an Islamic banking licence even though there have been expressions of interest in the model from both local and international institutions, according to the deputy governor of the Bank of Uganda, Louis Kasekende
June 25, 2018
Politics & Policy
Entebbe expressway to open to traffic in November
The completion date of the Kampala-Entebbe Expressway “has been revised 16 November”, according to works and transport minister, Monica Azuba-Ntege, to allow the contractor finish an incomplete section
June 17, 2018
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