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BUSINESS: Bank of Uganda in a  loss of UGX.2 Trillion in 15 years.

BUSINESS: Bank of Uganda in a loss of UGX.2 Trillion in 15 years.

AFRICA, Business, UGANDA
The Central Bank has reported up to UGX. 2 trillion in losses for the past 15 years, Finance State Minister (Planning), Hon. David Bahati has said. In a response to a Question for Oral Answer posed by MP Kenneth Lubogo (NRM, Bulamogi), Bahati said the Bank of Uganda posted only Shs40 billion in profits in 15 years, which was remitted to the Consolidated Fund Account as required by the Bank of Uganda Act. MP Lubogo sought to know the “profits or losses BoU has made annually for the last 15 years; when was the last time BoU made profits?” The Shs40 billion profits were registered in 2007, and since then, the Central Bank has been making losses. MP Richard Othieno (NRM, West Budama North), who was holding forte for MP Lubogo, asked a supplementary question. “Bank of Uganda ...
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