By Peter Abanabasazi
Business communities in Bunyoro sub-region have been challenged to interest themselves in investing in treasury bills and bonds.
Philip Andrew Waburya, the Executive Director Petroleum Fund at Bank of Uganda explains that in treasury bills and bonds is one of the safest businesses.
Treasury bills are risk-free investments issued by BOU where the government borrows funds from the public for a specific time, upon whose lapse the money is paid back with interest.
He notes that government gives 16% interest for the money invested in treasury bills and bond adding that one can start with Sh100, 000.
Waburya who was representing the deputy Governor Bank of Uganda at a town hall meeting organized by the same bank to sensitize the public in Hoima City about the bank’s mandate and opportunities has said that most of the people invest in business whose security is not guaranteed.
He argues that instead of keeping money in the banks where they charge them every month, they should invest in treasury bills and bonds where they are assured of interest on their money.
Reciting on the public outcry about the increasing cheating through crypto currency, Waburya says that this business is not authorized in Uganda.
He notes that BOU recently warned Ugandans against investing their money in this online transaction but the public has failed to adhere to the warning and this has seen several losing millions of money.
