By Our Reporter
Bank of Uganda has in a very short statement issued today, 16th November 2023 denied a story run by the government’s New vision that printing of Uganda currency notes domestically will kick off next year.
New Vision has run the story titled “Bank notes printing in Uganda starts next year,” in the 16th November, 2023 issue.
However, in a very swift response, Bank of Uganda has dispelled the allegations.
“Bank of Uganda, which has the mandate to print the Uganda shilling, has no plans of printing currency domestically next year,” reads B.O.U short statement on Twitter.
The New Vision had run a story indicating how an unnamed official of Uganda Printing and Publishing Corporation Limited had said that ‘Our Entebbe factory is 70% done and its completion shall be followed by installation of specialized machines which we will use in the production of currency notes.’
On June 11, 2016, government entered into a joint venture agreement with the Consortium of Veridos GmbH and Gieseck and Devrient GmbH to produce security documents like Bank Notes, Passports, National Ids and Cheques.
Whereas UPPCL is already printing Cheques and National Ids, the printing of currency Notes is still awaiting the completion of the firm’s factory in Entebbe.
BOU’ denial therefore is more of an issue of timing rather than fact.