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Bank of Uganda plans to launch 100,000 banknote

 

We have been told that the governor Bank of Uganda is planning to launch a new 100,000 shillings banknote at the Bank of Uganda head offices in Kampala. The date for the launch is still not clear as the new banknote is still under discussion.

So soon Ugandans on the ground will be receiving this bank note at the counters of Uganda’s commercial banks e.g. Stanbic Bank, Bank of Baroda, Centenary Bank, Equity Bank, and Cairo bank among others.

The Bank of Uganda, launched the following new banknotes last year 2,000/=, 1,000/=, 20,000/=, 10,000/=, and 5,000/=.

Efforts to talk to the governor Bank of Uganda, Tumusiime Mutebile for a comment were in futile by press time.

Sources in the Bank of Uganda told us that the governor Bank of Uganda uses the bank of Uganda branches as well as commercial banks to distribute the banknotes to Ugandans across the country.

Many Ugandans are still not saving their money with the commercial banks but they instead keep it in their homes.

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