Finance & Banking
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US$2bln facility geared to African banks and FIs
KAMPALA– The Africa Finance Corporation (AFC) will on Thursday this week in a webinar present the US$2billion facility to provide African banks and financial institutions [FIs] with liquidity to support Africa’s economic…
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UMPCU to hold AGM this May
KAMPALA-Member cooperatives of Uganda Meat Producers Cooperative Union [UMPCU] Limited will hold their Annual General Meeting [AGM] on May 26, 2022, according to the Union’s Board Secretary James Tukaikiriza. UMPCU is owned…
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Kenya’s SACCOs richest in Africa with US$13.64bln in total assets
NAIROBI – Savings and Credit Co-operative Societies (Saccos) in Kenya are the wealthiest in Africa by total assets, according to the new World Council of Credit Unions’ (WOCCU) 2020 Statistical Report. According…
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Shs 496mln unused as it remains held in Lira Emyooga SACCO account
LIRA – At least Shs 496 million accumulated as interest under Emyooga programme in Lira district is lying idle in a bank account as some borrowers from the Savings and Credit Cooperative…
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US$1mln boost for programme to drive racial equity in credit unions
NEW YORK – Cuna Mutual Group Foundation has committed to invest US$1m in a fund to build equity in credit unions led by or serving people of colour, according to thenews.coop. The money…
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Ministry releases data collection template, cooperatives urged to enroll
NEW DELHI– Moving with a sense of urgency, the Indian Ministry of Cooperation has released a draft Data Collection Template for cooperatives across the states to fill up their details in a…
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NSSF total assets shoot up 15.3 percent in March 2022
KAMPALA– The National Social Security Fund [NSSF] issued a transparency statement showing that its total assets as at March 31, 2022 increased by 15.3 percent to about Shs 16.86 trillion from Shs…
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Muslims in Uganda urged to form SACCOs
KAMPALA– Muslims in Uganda have been advised to form Saving and Credit Cooperatives [SACCOs] if they are to benefit from government’s poverty eradication programmes such as Emyooga and Parish Development Model [PDM].…
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Centenary Bank on list of nominees for 2022 edition of the African Banker Awards
KAMPALA– The African Banker magazine has announced the shortlist of over 60 nominees for this year’s edition of the African Banker Awards, with Ugandan Centenary Rural Development Bank and Tugende Global nominated…
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KCB suffers 58.3 percent fall in gross profit
KAMPALA– Kenya Commercial Bank [KCB] Uganda saw its gross profit plummet by 58.3 percent in 2021 to about Shs 12.3 billion from about Shs 19 bln recouped in 2020, its financial statements…
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