Finance & Banking
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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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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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