Finance & Banking
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Kenya rolls out USD 500m post-COVID economic stimulus plan
Kenya’s President Uhuru Kenyatta on Saturday, May 23 announced an 8-point economic stimulus programme to boost the economy and mitigate the adverse impact of the COVID-19 pandemic on livelihoods and business activity…
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Kenya’s KCB Group posts 8% jump in Q1 net profit
NAIROBI (Reuters) – Kenya’s biggest lender KCB Group saw an 8% jump in profit after tax in the first quarter to March, to 6.3 billion Kenyan shillings ($59 million), it said in…
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COVID-19: Gulu savings groups suspend activities over pandemic
Several savings and loans associations in Gulu district have suspended their operations, amid the novel Coronavirus (COVID-19) pandemic. Members of the savings groups revealed that they stopped saving money three weeks ago,…
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Masaka entrepreneurs wary of new Govt funding scheme
Potential beneficiaries of a new government funding scheme for specialised enterprise groups have expressed scepticism towards the initiative barely after its kickoff. The new “Presidential Wealth, Job Creation Initiative”, commonly known as…
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Wazalendo to conduct an impact audit on its Shs.890 billion loans
Kampala, Uganda: The Uganda Peoples Defense Forces Savings and credit scheme – Wazalendo has announced it is going to embark on an impact assessment of all loans given out to its members…
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Co-op Bank Records Ksh15.45 Billion Profit
The Co-operative Bank Group on Friday, November 15, reported a pre-tax profit of Ksh15.45 billion for the third quarter of 2019. This was a significant improvement compared to Ksh14.64 billion recorded in the…
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Police investigate the embezzlement of UGX 69M at Nyalit Coop
A police investigation is underway after some members of the Bukwo-based Nyalit Cooperative Society raised a red flag over alleged embezzlement of the cooperative’s funds. The said money, UGX 69 million, is…
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Community Health Workers raise Rwf14 billion in assets
Community Health Workers (CHW), through their cooperatives, have accumulated Rwf11.2 billion in immovable assets, and Rwf3.5 billion in cash deposited in banks, figures from the Ministry of Health show. Their assets are…
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