Mixed reactions as BOU limits cash withdrawal

The central bank says the move, which is aimed at accelerating the country’s transition to digital payments, will start on January 1, next year. BOU has capped daily withdrawals from individual accounts at sh50m and from corporate or business accounts at sh500m.

A customer being served by a bank employee at the counter. Bank of Uganda has introduced limits on how much cash can be withdrawn over the counter from financial institutions it supervises.