Mutebile told a meeting international deposit insurers at Lake Victoria Serena in Kigo on Monday that he was mindful of the risk that deposit insurance would stoke moral hazard through encouraging banks to take greater risks.
Global oil prices rose as much as 20 per cent to above USD 71 (257,000 Shillings), a barrel by Monday — the biggest percentage spike in almost three decades. This was in response to attacks on Saudi Arabia’s oil infrastructure on Saturday that cut more than half of the country’s production.
Both parties agreed that the issue of free movement of persons and goods and services across the common border and other outstanding issues shall be discussed in the next meeting to be held in Kampala after 30 days.
Ssemanda was dragged to the commission of Inquiry into land matters by his stepbrothers Dr Fred Kambugu and Apollo Lumu Kambugu, a policy analyst and fraud expert, stating that he forged the will pf their father Peter Kinalwa Musoke Kambugu who passed on in August aged 84.
The Ugandan team is headed by Foreign Affairs minister Sam Kutesa while Richard Sezibera, the Rwanda minister of foreign affairs, will lead the Kigali team.