Finance & Banking
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How a minister’s directive to lay off parish chiefs could haunt local governments
GULU – The Minister of Local Government, Raphael Mugyezi, has directed the Chief Administrative Officers [CAOs] in Northern Uganda to scrutinise the academic papers of all the parish chiefs and ensure that those…
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Co-op insurers beat their local markets for growth- ICMIF report
LONDON – Co-op insurers around the world have been bucking local trends for market growth over the last financial year, according to figures from the International Cooperative and Mutual Insurance Federation (ICMIF).…
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Masindi Emyooga SACCO leaders trained on financial literacy, mindset change
MASINDI – The Microfinance Support Centre [MSC], a government agency responsible for Emyooga programme has trained Masindi district Emyooga SACCO leaders on financial literacy and mindset change. The leaders were also trained…
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BoU keeps CBR at 6.5 percent in April
KAMPALA – The Bank of Uganda [BoU] has maintained the Central Bank Rate [CBR] at 6.5 percent for the month of April 2022, as the economy continues to recover from the Covid-19…
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Absa Bank Uganda profit after tax up by 169%
KAMPALA – Absa Bank Uganda had favourable business outcomes in the year 2021, despite covid-19 pandemic that hit the country. The bank on Tuesday announced a sharp profit after tax increment of…
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Public service vehicle operators to form SACCOs after training
KAMPALA – Operators of public service vehicles (PSV) in Uganda will soon begin to establish Savings and Credit Cooperative Societies (SACCOs), having undergone a two-day capacity building training on the formation of…
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Members flee Kigarama People’s SACCO over leadership squabbles
SHEEMA – A section of former members of Kigarama People’s SACCO have officially left their once historical financial institution over leadership wrangles. Located in Kanyeganyege Town Council, Sheema North Constituency, Kigarama People’s…
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DFCU’s pre-tax profits fall by 67.8% in 2021
KAMPALA – Business for DFCU was mild last year as the institution’s gross profits curve fell by a hefty 67.8%, blamed on rolling lockdowns brought on by the global pandemic. In a…
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Bank for dairy farmers, health insurance for cooperatives to be launched in India
INDIA– Union Cooperation and Home Minister Amit Shah will inaugurate the mega cooperative event tomorrow April 1, 2022 at Palace Grounds, Bangalore in India. During the conclave, he will launch the logo…
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Standard Chartered Bank renovates classroom block, plants over 300 trees at Salaama School For the Blind
MUKONO – Over 40 staff of Standard Chartered Bank days ago volunteered in a community initiative at Salaama School For the Blind in Kisoga – Mukono where they renovated a classroom block…
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