The construction of the Bank of Uganda Kabale District currency centre has been launched following a ground breaking ceremony by the central bank’s governor Prof. Emmanuel Tumusiime Mutebile.
Speaking at the ground breaking - ceremony, Prof Mutebile said the construction of the Kabale currency centre is an important landmark in the development of the central bank, which as expected will improve service delivery and efficiency.
He said the centre will provide a basement currency storage facility, currency processing, banking operation offices, a cafeteria and other such similar services.
Construction works will be conducted by Pearl Engineering Company at a cost of Shs9.2 billion and will take a period of 18 months to be completed.
The building will stand on a one acre piece of land that was donated to BoU by the Kabale Municipality authorities.
Initially the Kabale currency centre was accommodated in the then Uganda Commercial Bank building and later the Bank acquired its own current premises located along the Kabale-Kisoro road.
Bank of Uganda currently has four currency centres and five regional branches.