Finance & Banking
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Equity Bank readies loans for small enterprises in Acholi
GULU – Equity Bank Uganda has committed to supporting small-scale enterprises in Acholi Sub-region so that they can sustain their operations. At least 1,000 market vendors in Gulu City and its neighboring…
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GULU: Money lenders accused of retaining national ID cards of borrowers
GULU – The authorities of Gulu City have raised concern over a number of national identity cards [ ID cards ] being retained by money lenders and microfinance institutions operating in the…
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Burundi, Kenya get IMF loans to support economic growth
WASHINGTON – The International Monetary Fund [IMF] days ago approved US$ 271 million loan to Burundi under Extended Credit Facility [ECF] arrangement, with US$ 62.6mln ready for disbursement immediately. According to the…
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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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