Agencies
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Africa
AfDB approves US$ 147mln in subordinated debt to Mauritius Commercial Bank
ABIDJANI-The African Development Bank [AfDB] has approved US $147 million in subordinated debt to the Mauritius Commercial Bank Ltd [MCB] to enhance its capital base and mobilise loan growth in the renewables,…
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East Africa
Boresha SACCO told to gear up for Hustler Fund as Tower SACCO gets new director
NAIROBI- Baringo County’s cooperative officer David Maina has advised Boresha SACCO members to organise themselves if they are to benefit from Hustler Fund’s second phase, according to the local media outlets. Maina…
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International
U.S. agency to promote worker voice, labour rights in Brazil, Paraguay
WASHINGTON – The U.S. Department of Labour has announced the award of a US$ 5 million cooperative agreement to the International Laborr Organisation [ILO] to strengthen the capacity of worker and civil…
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East Africa
Kakuzi to pay record Ksh 470mln dividend on higher earnings
NAIROBI-Kenyan agricultural firm Kakuzi Plc is set to pay a record dividend of Ksh 24 per share or a total of Ksh 470.3 million for the year ended December, riding on strong…
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Finance & Banking
Egypt acquires equity in BRICS New Development Bank
CAIRO-One of Africa’s economic powerhouses, Egypt recently took an equity in the BRICS New Development Bank [NDB], weeks after President Abdel-Fattah El-Sisi visited India as a chief guest for the Republic Day…
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East Africa
Cooperative Bank of Kenya declares Ksh 5.7bln in dividend to be paid to cooperatives
NAIROBI– Cooperative societies which have a combined 64.5 shareholding in the Cooperative Bank of Kenya are poised to receive dividends amounting to Ksh 5.7 billion. This follows a significant growth in the…
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International
NCUT creates bank account to help cooperatives affected by earthquakes in Turkey
LONDON – The National Cooperative Union of Turkey [NCUT] has opened a bank account to provide assistance to member cooperatives affected by the recent earthquakes in Turkey. This follows the request of…
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International
FAO event looks at role of cooperatives in driving responsible sourcing and sustainability-driven trade requirements
ROME – On March 15, the Food and Agricultural Organisation [ FAO ] hosted an online event to explore the key issues related to responsible sourcing and sustainability-driven trade requirements. The session…
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International
NRECA’s 2023 Legislative Conference to take place next month
WASHINGTON, D.C. -Hundreds of electric cooperative leaders will gather at the National Rural Electric Cooperative Association [NRECA]’s 2023 Legislative Conference in Washington, D.C. on April 16-19 to urge Congress to tackle permitting reform, help fix supply…
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International
Canada: Housing coops are getting more affordable, says report
OTTAWA– A recent report comparing housing charges in housing coops housing with rents in similar private market rental buildings was released. It looked at Vancouver, Victoria, Edmonton, Toronto, and Ottawa between 2006…
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