Finance & Banking
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£200mln invested to transform community businesses
LONDON – More than £200 million has been invested in UK community businesses in the last decade, using community shares – a unique form of finance. And a major fund has re-launched…
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UDB and EU launch over Shs 60 bln second tourism facility
KAMPALA– Uganda Development Bank [UDB] in partnership with the European Union [EU] has announced a special call for eligible businesses in the tourism sector to apply for and receive up to Shs…
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Shs 100mln support boosts Lira University SACCO
LIRA– Lira University Staff Savings and Credit Cooperation Organisation [SACCO]is fast-growing after receiving financial support of Shs100 million from President Yoweri Museveni. According to Emma Okite, the Dean of Students, the university…
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Bujagali Hydropower project faces forensic audit as it seeks tax exemptions
KAMPALA– The Members of Parliament are immovable on approving tax exemptions for some companies in Uganda Uganda, pending a report on its effectiveness. The MPs instead have allowed a one-year tax exception to…
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Minister asks SACCOs to charge low interest rates
KAMPALA– Savings and Credit Cooperatives Organisations [SACCOs] in the country must not charge members above 18 percent interest on loans taken, Haruna Kasolo Kyeyune, the State Minister for Microfinance has said. Minister Kasolo…
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Woccu webinar describes efforts to support credit unions in Ukraine
USA – The World Council of Credit Unions (Woccu) and the Regional Credit Union Center (RCUC) for Central and Eastern Europe recently hosted a virtual event to explore the realities on the…
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BoU holds CBR at 6.5 percent for April 2022
KAMPALA – The Bank of Uganda [BoU] has maintained the Central Bank Rate (CBR) at 6.5 percent. The decision was taken during the Monetary Policy Committee (MPC) meeting of April 2022. BoU…
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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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