Finance & Banking
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Equity Bank trains Gulu young entrepreneurs in investment and digital economy
GULU – Equity Bank has trained hundreds of young entrepreneurs in Gulu on how to invest and take advantage of the digital economy. The training was aimed at giving young entrepreneurs the…
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Banks moving towards meeting new paid-up capital requirement, says BoU
KAMPALA – According to Bank of Uganda [BoU], the implementation of the revised minimum paid-up capital requirements by commercial banks and credit institutions has been largely successful and remains on course. This…
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MPs pass bill to kick start Islamic Banking in Uganda
KAMPALA – The enactment of the Income Tax Amendment Bill No.2 of 2023 has cleared all legal roadblocks to the commencement of Islamic banking products in Uganda. Parliament on Tuesday, 27 June…
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IMF extends over Shs 400bln loan to Uganda
KAMPALA – The Executive Board of the International Monetary Fund [ IMF ] has concluded the fourth review of Uganda’s Extended Credit Facility [ECF], enabling the country to get an additional loan…
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MPs approve over Shs 355bln loan for INVITE project
KAMPALA – Government’s request to borrow up to US $96 million [Shs 355.5bln] to finance the Investment for Industrial Transformation and Employment [ INVITE ] project has been okayed by Parliament. The…
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African Banker Awards 2023 winners announced as Co-operative Bank of Kenya boss excels
El SHEIKH – The African Banker Awards 2023 Gala Ceremony, the most prestigious event in the African banking calendar, took place last night at the Rixos Hotel in Sharm El Sheikh, Egypt…
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Winners and losers as MPs okay Shs 52.7 trn national budget
KAMPALA – Parliament on Thursday passed the Shs 52.7 trillion national budget for the financial year 2023/2024 in a sitting chaired by Speaker Anita Among. Shs 21.4trn of the total budget is…
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Local banks post total assets of Shs 46.1trn in 2022
KAMPALA – The Uganda Bankers’ Association [UBA] in its annual report shows the local banking industry grew its total assets by 11.2 percent to Shs 46.1 trillion in 2022 compared to Shs…
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Kabarole district approves Shs 27.3bln budget for next financial year
Kabarole: Kabarole district council has approved a budget of Shs 27.3 billion for the next financial year 2023/2024 with education taking a lion’s share of Shs 9.5bln. The education sector is followed…
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ACF: Teso farmers call for commercial banks to stick to 12 percent interest rate
SOROTI – Some farmers in Teso Sub-region have asked the Bank of Uganda to ensure that commercial banks stick to the annual 12 percent interest cap for loans taken under the Agricultural…
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