Bank of Uganda (BoU) made losses of Shs855 billion according to the December 2019 Auditor General’s report. This put the Central Bank as the most loss-making government entity. Others that made losses include; Uganda Development Corporation (UDC) and Uganda Air Cargo Corporation among others.
The Central Bank lost Shs855 billion from the Shs424 billion in profits the company recorded in 2018. Uganda Development Corporation made losses of Shs17 billion from the Shs383m profits the company made in 2018.
Kilembe Mines Limited extended its loss-making streak in 2019 with Shs2 billion losses recorded, an increment from Shs1 billion losses in 2018.
The other companies that recorded losses were Capital Markets Authority Shs 43 Million, although this was a reduction from Shs1 billion the company made in 2018. NEC Tractor Project lost Shs389 million up from Shs70 million recorded in 2018.
Uganda Electricity Generation Company, Uganda Property Holding and Civil Aviation Authority are the few companies that registered profits.