Finance & Banking
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UAE Ministry of Economy partners with ICA-AP to boost the co-op sector
DUBAI – The Ministry of Economy of the United Arab Emirates days ago signed a co-operation agreement with the International Cooperative Alliance – through the latter’s Asia-Pacific Regional Office [ICA-AP], which aims…
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Fall Armyworms invade Pader district as Amuru farmers are advised on cheap loans
PADER– Several farmers in Pader district are counting losses following the invasion by Fall Armyworms that have destroyed several acreages of maize, simsim, millet, and sorghum, resulting in instability on the side…
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Credit unions more likely to improve financial wellbeing of members, survey dicovers
NEW YORK– A recent survey of US voters by the Credit Union National Association [CUNA] found that the sector returns billions of dollars to the members of unions and communities. Credit union…
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Banyankole managers arrested over misuse of union funds
MBARARA – Former Banyankole Kweterana Co-operative Union [BKCU] Chairman, Emmanuel Natukunda and his treasurer Andrew Kaggwa were Friday arrested and dragged to police to record statements over the alleged mismanagement of the…
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Vantage lawyers insist on selling properties of Bitature to recover U$34mln
KAMPALA– The battle to attach and sell some of the properties belonging to business mogul Patrick Bitature continues, Robert Kirunda whose law firm represents South African lenders- Vantage Mezzanine Fund II Partnership,…
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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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