Finance & Banking
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Mushanga SACCO celebrates 50 years of growth
Mushanga Co-operative Savings and Credit Society Limited celebrated its Golden jubilee anniversary in a ‘scientific’ 2019 Annual General Meeting (AGM) held over the weekend. According to its General Manager, Gorden Nankunda, the…
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Lyamujungu Cooperative reinvests all dividends to settle outstanding loan
Members of Kabale-based Lyamujungu Co-operative Financial Services Ltd have resolved to reinvest all their dividends in order to absorb the effects of the COVID-19 pandemic that has affected many financial institutions in…
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Cooperators urged to embrace responsibility
Cooperators have been urged to take back control of their cooperatives by taking up membership roles and responsibilities in order to enhance the resilience and success of their organizations. During the recent…
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Teacher arrested for impersonating cooperatives’ officials
Police in Mbarara yesterday morning arrested a secondary school teacher for allegedly ripping off a number of cooperatives around Mbarara City. Julius Twinomugisha, a teacher at St. Victor Secondary School in Buhweju…
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Money changers smile as business at Elegu border starts to pick up
Money changers at Elegu one-stop border point, Atiak Sub County in Amuru district, have reason to smile as business slowly returns to normal. Majority of the money changers were pushed out of…
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COVID-19 frustrating Cooperatives’ fight against poverty
Kenya’s World Council of Credit Union’s (WOCCU) Country Coordinator, Mark Matabi, has voiced fears that the COVID-19 pandemic is frustrating efforts by the cooperative movement to alleviate poverty and social inequality in…
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Kitgum: Farmers, NUSAF official clash over procurement guidelines
Farmers’ groups in Kitgum district have put their NUSAF Desk Officer (NDO) on the spot for allegedly contravening procurement guidelines and inflating costs of items under the Third Northern Uganda Social Action…
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Kabarole SACCO management alarmed as loan recovery drops to 20 percent
The management of Kihondo Savings and credit cooperative society (SACCO) in Kabarole district has expressed concern about the declining loan recovery rate within just four months of lockdown. Kihondo SACCO, one of…
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BoU to battle Sudhir in Supreme Court
The Governor Bank of Uganda (BoU), Prof. Emmanuel Tumusiime-Mutebile, has revealed that BoU will challenge the Court of Appeal’s dismissal of the case filed by Crane Bank Limited (in Receivership) against businessman,…
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Cente Group announces corporate reorganization, seeks to diversify offerings
Centenary Rural Development Group Ltd, popularly known as “Cente Group”, has announced the completion of a corporate restructuring that will, among other changes, see its banking operation run under a “banking subsidiary”…
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