• Home
  • About
  • Join Us
  • Contact
93.3 KFM
  • Home
  • HotSeat
  • News
    • Business
    • Health
    • Sports
    • Lifestyle
  • Events
  • Contact Us
  • Promotions
  • Presenters
  • PHOTO GALLERY
No Result
View All Result
  • Home
  • HotSeat
  • News
    • Business
    • Health
    • Sports
    • Lifestyle
  • Events
  • Contact Us
  • Promotions
  • Presenters
  • PHOTO GALLERY
Subscribe
No Result
View All Result
93.3 KFM
No Result
View All Result
Home Business

BOU governor warns against capping interest rates

Reporter by Reporter
July 19, 2017
in Business, National News
0
Uganda’s growth sluggish.
8
VIEWS
Share on FacebookShare on Twitter

By Samuel Ssebuliba

The governor Bank of Uganda Prof Emanuel Tumusiime Mutebile has cautioned commercial banks against capping of interest rates, rather advising that they embrace various strategies of reducing their operation costs.

Related articles

Youths tipped on marketing themselves

Business owners challenged to embrace E-postal services

Currently the annual operation costs of banks stands at 11% which makes the final interest rate extremely high.

Speaking during the Annual Bankers’ Conference in Kampala Mutebile noted that although the annual demand for loans is growing at 17%, only 70% of these loans are approved due to skepticism within the banking sector.

Mutebile thus says bankers must embrace swift measures to cut operation costs including reducing on workers, new financial innovation, popularizing use of ATMs and other cost cutting means.

According to the Central Bank, the average interest rate currently stands at 20%.

Reporter

Reporter

Related Posts

Youths tipped on marketing themselves

Youths tipped on marketing themselves

by Noelyn Nassuuna
March 5, 2021
0

By Benjamin Jumbe Ugandan business owners and workers are tasked to work towards skills addition to help them compete in the fast growing job market. This...

Business owners challenged to embrace E-postal services

Business owners challenged to embrace E-postal services

by Noelyn Nassuuna
February 26, 2021
0

By Benjamin Jumbe Business Owners in Uganda have been challenged to take advantage of the new E-postal address to register them. This has been made by...

Telecom operator blames Covid-19 for slow uptake of 4G network

Telecom operator blames Covid-19 for slow uptake of 4G network

by Noelyn Nassuuna
February 23, 2021
0

By Moses Ndhaye Telecom operators in Uganda have blamed the low uptake of 4G Mobile services on the Covid-19 pandemic. The Chief Marketing Officer MTN-Uganda Somdev...

National body to assess quality accreditation agencies in the offing

National body to assess quality accreditation agencies in the offing

by Noelyn Nassuuna
February 23, 2021
0

By Juliet Nalwooga The Ministry of Trade, Industry and Cooperatives is rooting for the establishment of the Uganda National Accreditation Services (UGANAS). Trade minister Amelia Kyambadde says...

Financial institutions asked to make borrowing more affordable

Financial institutions asked to make borrowing more affordable

by Noelyn Nassuuna
February 23, 2021
0

By Moses Ndhaye Financial institutions have been asked to make borrowing more affordable to help support their clients with businesses entities that have been severely affected...

Next Post
Hollywood star Gillies appeals for support for refugees in Uganda

Hollywood star Gillies appeals for support for refugees in Uganda

Janet orders for list of un-promoted qualified teachers.

Ministry of Education makes changes within ministry

Uganda’s growth sluggish.

Mutebile cautions commercial banks against capping of interest rates

CATEGORIES

  • Business
  • Entertainment News
  • Health
  • HotSeat
  • Lifestyle
  • National News
  • News
  • PHOTO GALLERY
  • Sports
  • World News

RECOMMENDED

UPDF officer dies in helicopter crash, mechanical fault blamed
National News

UPDF officer dies in helicopter crash, mechanical fault blamed

February 12, 2021
Abandoned suitcase paralyses traffic
News

Abandoned suitcase paralyses traffic

February 22, 2019
93.3 KFM

Kampala's #NumberOne radio station for better information and the best music ! KFM is a subsidiary of Nation Media Group;
@NationMediaGrp

© 2021.

No Result
View All Result
  • Home
  • HotSeat
  • News
    • Business
    • Health
    • Sports
    • Lifestyle
  • Events
  • Contact Us
  • Promotions
  • Presenters

© 2021.