Uganda: Panic As BoU Payment System Breaks Down

Kampala — The Central Bank yesterday suffered a mysterious failure of its real-time gross settlements (RTGS) system, forcing the Governor to suspend processing for large payments for most of the day and institute an investigation into the incident.

There were frantic attempts to fix what BoU managers called "normal system hiccup" as BoU senior managers "fidgeted" with large cash transactions that needed urgent, safe, secure and real-time clearance. They tried to revert to manual processing for large payments but didn't succeed.

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