Finance & Banking
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Lira district Employees’ SACCO revived after six-year hiatus
The Lira district Employees’ saving and credit cooperative organization (SACCO) has been revived six years after it fell dormant as a result of recurrent challenges. Established in June 2012 with the aims…
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Bunyoro Growers’ Cooperative Union bags Shs 2bn compensation cash
Bunyoro Growers’ Cooperative Union Limited has received Shs 2 bn compensation from the government for losses incurred as a result of the NRA liberation war. This was revealed to Philemon Bagada Rugaaju,…
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West Lango diocese opens SACCO, elects new leadership
Philip Otim, the Apac District Commercial Officer, has been elected Chairperson for West Lango Multipurpose Cooperative Society Limited. The nascent SACCO was opened last December by the Diocese of West Lango under…
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Government injects Shs 1.6bn into Masindi SACCOs
The government has given Shs1.6 bn to 54 SACCOs in Masindi district under the Presidential Cluster Initiative on Wealth and Job Creation (Emyooga). The cash injection was made in fulfillment of a…
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SACCOs grappling with fraud, poor governance
A significant number of Savings and Credit Cooperative Organizations (SACCOs) in Uganda have suffered fraud and poor governance, a new report indicates. The report was released by the Project for Financial Inclusion…
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How SACCOs came to dominate Uganda’s Cooperative Movement
As you travel across Uganda, you will not miss a signage with the word “Savings and Credit Cooperative Societies (SACCOs)”. Even businesses that lend money and have nothing to do with formal…
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Lango Cooperative Union in battle to recover lost assets
The leadership of Lango Cooperative Union is struggling to repossess its prime assets that were lost to private individuals. Formed in 1952 to promote cotton growing in the greater Lango sub-region, it…
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Katuna cooperatives hit hard by Uganda-Rwanda standoff
Cooperatives operating in Katuna town, which is situated in Kabale district, along the Uganda-Rwanda border, have decried the ongoing standoff between the two countries, saying it has cost them business. Relations between…
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Savings groups warned against sharing savings for Christmas
Rogers Byamukama, the Federation of Uganda Football Association’s (FUFA) delegate for the Albertine region, has condemned the practice, widespread among savings groups in Masindi district, of sharing their savings among members to…
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Masindi Central market vendors revive SACCO after 5-year break
Members of Masindi central market savings and credit cooperative society have revived their SACCO after a five-year break. According to its Chairperson, James Masaba, the SACCO had collapsed after the previous leadership…
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