Finance & Banking
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BoU, DPF to start paying EFC Uganda depositors next week
KAMPALA, January 24, 2024 – Depositors of EFC Uganda are to be paid by the Bank of Uganda [BoU] and the Deposit Protection Fund of Uganda [DPF] after the lender had its…
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Nigerian lender to acquire 80 percent stake in Finance Trust Bank
KAMPALA, January 23, 2024 – Nigerian business group, Access Holdings has announced that its flagship subsidiary, Access Bank PLC (Access Bank) has entered into a definitive agreement with Uganda’s Finance Trust Bank…
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Investor Patel acquires 1.29 stake in Co-operative Bank of Kenya
NAIROBI, January 22, 2024 – Kenyan tycoon Baloobhai Patel has acquired a 1.29 percent stake in Co-operative Bank of Kenya after buying an extra 20.5 million shares worth Ksh 232mln. Patel, whose…
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North Africa 2023: Over US$ 2bln released from AfDB for inclusive sustainable growth
CAIRO, January 11, 2024 – In 2023, the African Development Bank [AfDB] provided more than US$ 2 billion to countries in North Africa to finance a series of key operations in a…
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Lira City to offer land for construction of women’s multipurpose business centre
Lira – December 22, 2023 – The authorities of Lira City have promised to offer to land for the construction of a multipurpose production business centre to serve women in Lango Sub-region.…
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Top 10 largest stock markets in Africa named
NAIROBI, December 19, 2023 – According to the African Stock Exchanges Focus Report by Oxford Business Group, African stock exchanges have an overall market capitalisation of about US$ 1.6 trillion which makes…
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Developing countries paid record US$ 443.5bln on public debt in 2022-World Bank
WASHINGTON, Dec 14, 2023— Amid the biggest surge in global interest rates in four decades, developing countries spent a record US$ 443.5 billion to service their external public and publicly guaranteed debt…
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AfDB approves US$ 696.41mln of financing for Burundi and Tanzania to build SGR
ABIDJAN, December 13, 2023– The African Development Bank [AfDB] has approved various financing structures valued at US$ 696.41 million for Burundi and Tanzania to start Phase II of the Joint Tanzania-Burundi-DR Congo…
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AfDB approves US$ 66mln loan for equity enhancement of Tanzania Agricultural Development Bank
DODOMA, December 11, 2023 – The African Development Bank [AfDB] has approved a US$ 66 million loan to the government of Tanzania for additional equity in Tanzania Agricultural Development Bank [TADB]. According…
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Stanbic Bank gives PDM SACCOs free Flexipay smartphones
NAMAYINGO, December 7, 2023 – Stanbic Bank Uganda has rolled out a new initiative aimed at enabling Parish Development Model [PDM] Savings and Credit Cooperative Organisations [SACCOs] access their money with ease.…
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