I Have Not Received Bailout List – BoU Governor

1627 Views Kampala, Uganda

In short
Addressing the media in Kampala, Mutebile says claims that the central bank will dish money to so-called distressed companies and individuals is untrue because he has not seen nor got any distress list. He also said in any case there is no money.

Emmanuel Tumusiime-Mutebile, the Governor of the Bank of Uganda (BoU), says he has not received any list of distressed companies seeking financial bailout.

Addressing the media in Kampala, Mutebile says claims that the central bank will dish money to so-called distressed companies and individuals is untrue because he has not seen nor got any distress list.

There is public furore after it emerged that 65 companies and individuals, claiming to be in financial distress, want the taxpayers to pay them 1.3 trillion Shillings in total. They claim that they are sinking under the weight of heavy loans.

There have also been speculation that the bailout money is expected to come from the BoU and National Social Security Fund.

But Mutebile says he has got not only has no bailout list but also the country has no money to bailout anyone.

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Speaking in an earlier interview with Uganda Radio Network, Herman Kasekende, the Chief Executive Officer of Standard Chartered Bank Uganda, also denied having received any bailout list. Neither could he also confirm whether some of their clients are choking on loans.

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About the author

David Rupiny
In his own words, David Rupiny says, "I am literally a self-trained journalist with over 12 years of experience. Add the formative, student days then I can trace my journalism roots to 1988 when as a fresher in Ordinary Level I used to report for The Giraffe News at St Aloysius College Nyapea in northern Uganda.


In addition to URN for which I have worked for five years now, I have had stints at Radio Paidha, Radio Pacis, Nile FM and KFM. I have also contributed stories for The Crusader, The New Vision and The Monitor. I have also been a contributor for international news organisations like the BBC and Institute for War and Peace Reporting. I am also a local stringer for Radio Netherlands Worldwide.


I am also a media entrepreneur. I founded The West Niler newspaper and now runs Rainbow Media Corporation (Rainbow Radio 88.2 FM in Nebbi). My areas of interest are conflict and peacebuilding, business, climate change, health and children and young people, among others."