Finance & Banking
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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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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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