Buy-Import-Export Premium Grade UGANDA VANILLA BEANS                           Buy-Import-Export Un-Refined Raw SHEA BUTTER 

Uganda Loan Applications Decline


Uganda Loan applications have dropped to 17,558 at the end of November from 18,486 in October, the Uganda Central Bank indicated in a new report.

The report pointed out that total loan amounts approved also fell to UGX423 Billion in November from UGX510Billion in October.

In an effort to maintain price stability and control inflation, the Uganda Central Bank embarked on aggressive tightening cycle in August, raising the Central Bank Rate, its benchmark rate four times in a row after launching it at 13 percent in July.

However, despite the tightening of the monetary policy to discourage unnecessary borrowing, credit to private sector continued to grow throughout 2011, the report said.

It showed that the shilling denominated loans grew by 28.4 percent to 178.7billion in August from a dip of minus UGX19.8Billion in July 2011.

"In terms of sectoral distribution, trade and commerce accounted for about 22 percent of the total private sector credit."
The report noted that this was followed by building, mortgage, construction and real estate at 20 percent.

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Banking Guide Questions and Comments.

Haven't yet found what you Want...?

If you haven't yet found what you were looking for or you need detailed information about the subject matter on this page


feel free to ask our business travel consultants.

Enjoy this page? Please pay it forward. Here's how...

Would you prefer to share this page with others by linking to it?

  1. Click on the HTML link code below.
  2. Copy and paste it, adding a note of your own, into your blog, a Web page, forums, a blog comment, your Facebook account, or anywhere that someone would find this page valuable.