“The Golden Jubilee commemoration presents an opportunity to learn lessons from the past and to look forward to, and prepare to face the challenges of the future” he remarked.
Bank of Uganda has launched its campaigns to mark its Golden Jubilee. The Central Bank's 50th Anniversary will be ear-marked by a series of activities that will close on the 16th of August-the official day of the Golden Jubilee.
The activities will aim at ensuring that the public better understands role of the Bank and the challenges it faces in the future. While speaking at the launch of the activities, the Governor Bank of Uganda, Prof. Emmanuel Tumusiime-Mutebile revealed that this is a chance to re-energize the goals of the Central Bank.
"The Golden Jubilee commemoration presents an opportunity to learn lessons from the past and to look forward to, and prepare to face the challenges of the future" he remarked.
Bank of Uganda has evolved the financial system of the country since its establishment on August 15th, 1996 by responding to the dynamic demands of a developing economy in an increasingly globalized world.
The Central Bank has been integral in promoting financial inclusion in the country most notably supporting the development of commercial banks.
The Governor also recommended the role played by the Bank in restoring faith in the financial system of the country after periods war and political strife that left the economy limping.
"After a period of severe economic difficulties in the 1970's and 1980's, the Bank played a key role in restoring macroeconomic stability in the 1990's and in rectifying financial distress in the Banking industry," he said.
The Central is currently stabilizing inflation rates by regulating the interest rate that Banks borrow from each other using monetary tools.
The country has for the last 25 years enjoyed relatively low inflation, averaging approximately 6 per cent annum.
The Activities include:
- A Golden Jubilee Edition of the annual Joseph Mubiru Memorial Lecture in August 2016
- Exhibitions and Town Hall Meetings in our regional Branches and Currency Centre's starting in May 2016
- The publication of a Souvenir Handbook about BOU Milestones
- A national essay competition on savings for primary school pupils starting in the second term
- A televised BoU University Challenge on Financial Stability featuring Participants from 30 universities in August 2016.
- A Charity Walk aimed at raising funds for supporting maternal and Child health
- A tree planting campaign at our Branches and Currency Centre's