Ugee

Banking and Finance:

Although still relatively young, Uganda's emerging financial sector is vibrant and well supported by banking, legal, accounting and insurance support services. Major international accounting firms like Deloitte and Touche, PricewaterhouseCoopers, Ernst and Young and KPMG are all present in the country offering a wide range of management support services. There are also a number of well-established international banking groups such as the Standard Chartered Bank, Bank of Baroda, Barclays Bank, Stanbic Bank, Citibank as well as many other fast growing indigenous banks and insurance companies. Uganda's money market includes discount houses, commercial banks, finance houses, the Post Office Savings Bank, insurance companies, private bureaux de change and corporate bodies. The capital or equity market comprises mainly the recently launched Uganda Securities Exchange Limited and the stock broking firms. Domestic borrowing by foreign investors just like their domestic counterparts, is permitted subject only to the limitations inherent in the prudential requirements on commercial banks exposure. Interest rates, while fairly high at about 20% per annum, are nevertheless most competitive when compared to other African countries.

 

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