KAMPALA (CU)_Over the past two years, the COVID-19 pandemic led a major shift in payment trends across the globe, as consumers and businesses attempted to distance themselves from cash transactions owing to fears of transmitting the virus. This was the case in many countries around the world, including Uganda, where authorities encouraged the general public to rely on digital forms of payment over the use of fiat money, and the Bank of Uganda (BoU) recently took another major step in promoting a cashless society.
According to a statement issued by the central bank, limits have now been imposed for…
