Central Bank shifts to digital currency to cut costs
The Central Bank has announced a shift from physical currency to digital money to reduce the costs associated with printing. According to the Deputy Governor of the Bank of Uganda, Augustus Nuwagaba, millions of notes are destroyed daily due to poor handling in circulation. Nuwagaba was speaking to accountants gathered in Entebbe, attending the 3rd Annual Public Finance Management Conference, which focused on how technology can help curb corruption in public financing. Ivan Walunyoro reports.
