BoU moves key services to Jinja, Masaka branches in emergency drill

The Bank announced Monday morning that it was moving some of its key functions to other branches to test its coping abilities in case of any major disruptions and to maintain economic stability and public trust in Uganda's financial system.

As the world becomes increasingly interconnected, the potential for operational disruptions ranging from natural disasters to cyber threats has heightened.

By simulating scenarios that could impact its operations, the Bank aims to identify vulnerabilities and implement measures to mitigate risks effectively.

During this exercise, some services traditionally housed at the BoU Headquarters in Kampala will be temporarily relocated to the Jinja and Masaka currency branches.

The Central Bank in a statement did not mention which specific functions are being moved but promised to provide further information as the drill carries on

The Bank of Uganda has assured all concerned parties that despite the temporary relocation, all essential services will continue to be available.

To facilitate transparency and keep all stakeholders informed, the BoU plans to provide regular updates throughout the duration of the business continuity exercise. These updates will include details on the exercise's progress, its impact on services, and ultimately, the timeline for the resumption of normal operations at the Headquarters in Kampala.

For individuals and entities seeking more information or assistance during this period, the BoU has designated a coordinator, Mrs. Joyce Okello.