Finance & Banking
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Stanbic increases ceiling for unsecured SACCO loans to Shs 4bln
KAMPALA, November 20, 2024 – Stanbic Bank has raised the ceiling for unsecured SACCO loans to Shs 4 billion, up from the previous limit of Shs 200 million, with an interest rate…
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GROW project: Gov’t to create zones for fair distribution of funds
FORT PORTAL CITY, November 15, 2024 – The Government of Uganda is considering zoning the country to facilitate a fairer distribution of funds under the World Bank-funded Generating Growth and Opportunities for…
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Ecobank to unlock real-time cross-border payments across 35 African markets
KAMPALA, November 11, 2024— Nium, the leading global infrastructure for real-time cross-border payments, has partnered with Ecobank Transnational Incorporated to enable seamless cross-border payments across 35 African markets for more than 32…
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TZ marks record agricultural achievement as AfDB President Adesina urges investment in Africa
ABUJA, November 4, 2024 — Tanzania is setting new benchmarks in food self-sufficiency across Africa, raising hope that the fight against hunger and malnutrition on the continent is achievable. President Samia Suluhu…
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Masindi: Stanbic Bank donates equipment to Kyatiri Health Centre
MASINDI, November 1, 2024: Stanbic Bank Uganda has donated health equipment valued at Shs 35 million to Kyatiri Health Centre III in Kyatiri Town Council, Masindi district, aimed at enhancing service delivery.…
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Afreximbank calls for increased collaboration to accelerate the green energy transition in Africa
WASHINGTON D.C., October 31, 2024 — The eighth Babacar Ndiaye Lecture held at the Four Seasons Hotel in Washington D.C., days ago under-scored the need for African nations to strike a balance…
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Stanbic Bank cuts interest rate to 19.50 percent
KAMPALA, October 30, 2024 — Uganda’s largest bank by assets, Stanbic Bank, has reduced its local currency prime lending rate [PLR] to 19.50 percent from 19.75 percent, effective December 1, 2024. This…
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MDBs sign US$ 1bln exchange exposure agreement to increase development lending capacity to African nations
WASHINGTON, DC., October 28, 2024 — The African Development Bank (AfDB] and the Asian Development Bank [ADB] have signed a US$ 1 billion exchange exposure agreement [EEA] aimed at enhancing the African…
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Widespread progress in African financial markets
KAMPALA, October 25, 2024 — There have been clear improvements across countries in the Absa Africa Financial Markets Index 2024. Scores have risen for 23 countries [82 percent], which is the highest…
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World Bank Group advances Gender Strategy, unveils economic opportunity ambition
WASHINGTON, Oct, 24, 2024 – The World Bank Group today took the first steps toward implementing Gender Strategy 2030, announcing a set of actions and concrete goals that aim to boost economic opportunities…
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