Finance & Banking
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AfDB secures US$ 18mln GEF funding for Zambezi Basin and E-waste projects
ABIDJAN, June 27, 2024 – The African Development Bank [AfDB] has secured more than US$ 18 million in funding from the Global Environment Facility [ GEF ] for two major projects aimed…
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Norinchukin Bank’s losses expected to grow to US$ 9.5bln
TOKYO, June 29, 2024 – Norinchukin Bank is expected to report US$ 9.5 billion [1.5 trillion yen] in net losses for the current fiscal year, about triple the projection given less than…
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AfDB, WFP project boosts wheat production in war-torn Sudan amid soaring hunger
PORT SUDAN, June 22, 2024 – An emergency wheat production project in Sudan financed by the African Development Bank and executed by the United Nations World Food Programme [ WFP] has increased…
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Geopolitical risks continue to loom over central bank FX reserves
LONDON, May 19, 2024 – Two surveys of central bank foreign exchange reserve managers have been published in recent weeks – both of which highlighted that geopolitical risks were now considered to…
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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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