Finance & Banking
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Government injects Shs 1.6bn into Masindi SACCOs
The government has given Shs1.6 bn to 54 SACCOs in Masindi district under the Presidential Cluster Initiative on Wealth and Job Creation (Emyooga). The cash injection was made in fulfillment of a…
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SACCOs grappling with fraud, poor governance
A significant number of Savings and Credit Cooperative Organizations (SACCOs) in Uganda have suffered fraud and poor governance, a new report indicates. The report was released by the Project for Financial Inclusion…
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How SACCOs came to dominate Uganda’s Cooperative Movement
As you travel across Uganda, you will not miss a signage with the word “Savings and Credit Cooperative Societies (SACCOs)”. Even businesses that lend money and have nothing to do with formal…
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Lango Cooperative Union in battle to recover lost assets
The leadership of Lango Cooperative Union is struggling to repossess its prime assets that were lost to private individuals. Formed in 1952 to promote cotton growing in the greater Lango sub-region, it…
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Katuna cooperatives hit hard by Uganda-Rwanda standoff
Cooperatives operating in Katuna town, which is situated in Kabale district, along the Uganda-Rwanda border, have decried the ongoing standoff between the two countries, saying it has cost them business. Relations between…
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Savings groups warned against sharing savings for Christmas
Rogers Byamukama, the Federation of Uganda Football Association’s (FUFA) delegate for the Albertine region, has condemned the practice, widespread among savings groups in Masindi district, of sharing their savings among members to…
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Masindi Central market vendors revive SACCO after 5-year break
Members of Masindi central market savings and credit cooperative society have revived their SACCO after a five-year break. According to its Chairperson, James Masaba, the SACCO had collapsed after the previous leadership…
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Pakwach: Rising L. Albert waters destroy local businesses
Business owners in Panyimur Town Council, Pakwach district, are in tears over the rising levels of Lake Albert that have submerged several business premises in the area, leading to loss of income…
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Prioritize EAC integration, Museveni urges
President Yoweri Museveni has asked local leaders to focus on East Africa’s integration, saying Ugandans stand to gain more from being able to access the larger regional market than being limited to…
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Nebbi traders bitter over creation of rival market
Traders in Nebbi main market are bitter over the creation of a rival market at the district’s Mayor’s garden which they say has affected their businesses. Mayor’s garden temporary market was created…
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