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IT HURTS! Crying banking agents curse top banks, Bankers body, Jabel's ABC over their withheld money

On the morning of January 1st, 2021, Mutambi (another name withheld), the proprietor of Mutambi Cash Point Solutions dealing in mobile money services and agent banking (Stanbic bank) and based in Matugga, Wakiso district, woke up and went about his business normally. In the course of the day, using his account number 90300 , he made ....

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Richard Yego Appointed as Managing Director MTN Mobile Money Uganda

MTN Mobile Money Uganda Limited, a subsidiary of MTN Uganda Limited announced the appointment of Mr. Richard Yego as its Managing Director. ....

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Taxing bank withdrawals will be harmful to economy - BoU

Taxing bank withdrawals will be harmful to economy - BoU
Friday February 12 2021
It is not yet clear how government will seek to go about this but sources within the Ministry of Finance say there is a proposal to introduce a 0.5 per cent levy on each bank cash withdrawal. PHOTO | FILE
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Taxing cash withdrawals from banks will be detrimental to the economy, Bank of Uganda has said.
This comes in the wake of a February 9 letter in which government is seeking guidance on a proposal imposing a tax on bank withdrawals.
In a response to emailed questions yesterday, Dr Adam Mugume, the Bank of Uganda (BoU) executive director research, told Daily Monitor the proposed move will negatively impact deposits and penetration, which continues to be below average. ....

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