Finance & Banking
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EBO SACCO in final touches to transform into MDI
MBARARA, June 19, 2024 – EBO SACCO located in Bwizibwera-Rutooma town council in Mbarara district, is in its final stages of transiting into a Microfinance deposit-taking institution [MDI] this year, having issued…
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Industry shock as BoU revokes Mercantile Credit Bank licence
KAMPALA, June 18, 2024 – The Bank of Uganda [BoU] has with immediate effect revoked the licence of Mercantile Credit Bank Limited and ordered the lender to wind up its affairs, sending…
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GROW project funds misallocated, says Auditor General
KAMPALA, June 18, 2024 – Parliament’s Public Accounts Committee [PAC] has raised concerns over the utilisation of a Shs 803 billion [US$ 217 million] World Bank grant intended for the Generating Growth…
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G-7 leaders reaffirm support for billion-dollar infrastructure programme for Africa
ABIDJAN, June 18, 2024 – G-7 leaders meeting at their summit in Puglia, Italy have reaffirmed support for multi-billion-dollar infrastructure projects across Africa to realise the continent’s economic potential and transformation. US…
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AfDB launches continental network to spur home-grown solutions to debt challenges
ADDIS ABABA, June 15, 2024 – The African Development Bank’s African Development Institute on Thursday launched the African Debt Managers Initiative Network [ADMIN], a new programme to provide home-grown solutions to Africa’s…
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Stanbic Bank Uganda donates to Mbale hospital
MBALE, June 14, 2024 – Stanbic Bank Uganda, has reaffirmed its commitment to support the Ministry of Health to improve maternal healthcare services across the country by donating equipment worth Shs 20…
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Excitement as Inomo Oil Seed Cooperative launches SACCO
KWANIA, June 13, 2024 – Members of Inomo Oil Seed Cooperative Society Limited in Inomo Subcounty Kwania district have launched a Savings and Credit Cooperative Society [SACCO] intending to improve their livelihoods.…
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Fidelity Bank Nigeria completes acquisition of Union Bank UK
CAIRO, June 11, 2024 – African Export-Import Bank [Afreximbank] has announced the disbursement of a US$40-million Intra-African Investment Facility to Fidelity Bank Nigeria Plc to support Fidelity Bank’s acquisition and recapitalisation of…
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Greening: KCCA, Absa Bank partner to plant over 3,000 trees
KAMPALA, June 8, 2024 – Capital City Authority [KCCA] has partnered with Absa Bank Uganda to plant 3,300 trees at KCCA’s Agricultural Resource Centre in Kyanja situated on an expanse of 4.9…
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Africa: Ecobank Group launches 2024 Fintech Challenge with Shs 190mln prize
LOME, June 8, 2024 – Ecobank Group which also operates in Uganda has launched the 2024 Fintech Challenge and is calling for applications from across Africa, according to a press release. This…
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