Uganda Central bank |

Uganda Central Bank Says Lenders’ Asset Quality Still a Concern

KAMPALA (Capital Markets in Africa) – The asset quality of Uganda’s banking sector “remains a concern,” even as the country’s 24 commercial lenders reduced the amount of non-performing loans in the past fiscal year and were able to record higher profits, the Bank of Uganda said. The ratio of non-performing loans to total loans declined to 4.4 percent in the 12 months through June from 6.2 percent a year earlier, but “credit quality could be…

Kenya’s Central Bank Holds rate at 10.0 percent, Likely to Sell Dollars

Posted on by The Editorial Team

NAIROBI (Capital Markets In Africa) – At its Monetary Policy Committee meeting this month, Kenya’s central bank held its rate at 10.0 percent. Its Monetary Policy Committee will next meet to set lending rates on Sept.18. While the currencies of Kenya, Nigeria and Tanzania are expected to hold steady, traders said Uganda’s shilling and Zambia’s kwacha are forecast to weaken against the dollar in the next week to Thursday, while Ghana’s cedi will firm. KENYA…

Uganda Cuts Key Rate to Record Low to Boost Sluggish Growth

Posted on by The Editorial Team

KAMPALA (Capital Markets in Africa) – Uganda’s central bank reduced its benchmark rate to the lowest since it was introduced in 2011 to boost an economy that’s projected to grow at the slowest pace in four years. The Monetary Policy Committee cut the key rate by 100 basis points to 10 percent, Bank of Uganda Governor Emmanuel Tumusiime-Mutebile told reporters Monday in the capital, Kampala. The central bank has reduced the rate by 700 basis points since the start of last…