Dr. Samuel Sejjaaka, Uganda Development Bank Board Chairperson, says while trust and transparency lie at the heart of social life and are key to building a healthy economy, they have been lacking among many Ugandans that have set up family businesses.
Owino says that business builders feel the pressure of rising interest rates more severely than their larger counterparts adding that big business and government policymakers should look at ways of helping smaller businesses manage the challenges they face as a result of high interest rates.
Uganda is home to 25 commercial banks of which the top players namely Barclays Bank, Stanbic Bank and Standard Chartered Bank are foreign owned controlling 44.3percent of the total assets of all commercial banks in Uganda.
Members of Parliament have today asked government to halt the disbursement of money under the Job Stimulus Programme until a proper investigation is carried out to prove its viable usage. In 2010, government initiated the Job Stimulus program with the aim of creating employment for the youths.