Finance & Banking
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IFAD, Stanbic Bank partner to cut Uganda money transfer costs by half
ROME– The UN’s International Fund for Agricultural Development y [ IFAD ] and Stanbic Bank Uganda [SBU] today announced a partnership that will cut the cost incurred by Ugandan migrant workers sending…
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Diverse bank boardrooms contribute to fighting climate change
LONDON – Following the 2015 Paris agreement, achieving carbon neutrality is one of the world’s most urgent priorities. Since banks play an important role in modern financial systems by channelling funds to…
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MPs endorse loan to overhaul Kampala-Malaba railway line
KAMPALA – Members of Parliament have urged government to fast-track the rehabilitation of the Kampala-Malaba metre gauge railway line to enhance trade and transport and also place the country in tandem with…
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MSC trains Omoro Emyooga SACCOs in records and financial management
OMORO – Leaders and some members of six Emyooga SACCOs in Omoro district have received training in records and financial management so that they can effectively utilise the funds disbursed to them…
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Private sector credit declined 0.2 percent in June 2023
KAMPALA – The total value of private sector credit [PSC] approved in June 2023 for disbursement by local commercial banks declined by 0.2 percent to about Shs 1.2 trillion, from about Shs…
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Netherlands: Past, present and future of Rabobank, a cooperative
AMSTERDAM – Rabobank emerged from small credit unions founded by farmers and horticulturists starting at the end of the 19th century in the Netherlands. The common thread since its inception is to…
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Capital for microfinance institutions set at Shs 5 billion
KAMPALA– Microfinance Deposit Taking Institutions [MDIs] be required to have minimum capital of Shs 5 billion in order to operate in Uganda. The is contained in a statutory instrument on revision of…
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US banks downgraded on worsening outlook
NEW YORK – Global ratings firm Moody’s early this week downgraded several mid-sized US banks, warning that the credit strength of lenders will likely be tested by funding risks and weaker profits,…
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Stanbic Bank loans to SACCOs hit Shs 55bln
KAMPALA – Savings and Credit Cooperative Societies [SACCOs] have so far received loans worth Shs 55 billion from Stanbic Bank Uganda, according to Patrick Twinamatsiko, the head of SACCOs business at Uganda’s…
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World Bank halts new loans to Uganda over anti-LGBTQ law
KAMPALA – The World Bank has announced it will halt new loans to Uganda over the country’s controversial anti-LGBTQ law. The Bank said on Tuesday it would pause project financing pending a…
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