Financial
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Industry shock as BoU revokes Mercantile Credit Bank licence
KAMPALA, June 18, 2024 – The Bank of Uganda [BoU] has with immediate effect revoked the licence of Mercantile Credit Bank Limited and ordered the lender to wind up its affairs, sending…
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GROW project funds misallocated, says Auditor General
KAMPALA, June 18, 2024 – Parliament’s Public Accounts Committee [PAC] has raised concerns over the utilisation of a Shs 803 billion [US$ 217 million] World Bank grant intended for the Generating Growth…
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G-7 leaders reaffirm support for billion-dollar infrastructure programme for Africa
ABIDJAN, June 18, 2024 – G-7 leaders meeting at their summit in Puglia, Italy have reaffirmed support for multi-billion-dollar infrastructure projects across Africa to realise the continent’s economic potential and transformation. US…
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Coops’ war loss compensation: MPs Mawanda and Mudimi summoned by CID over corruption
KAMPALA, June 18, 2024 – The Member of Parliament for Igara East Constituency, Michael Mawanda Maranga has been summoned by the Criminal Intelligence Directorate [CID] of the Police over his alleged involvement…
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Oikocredit announces US$ 10mln loan to APC to support SMEs in Africa
NAIROBI June 17, 2024 – Social impact investing cooperative Oikocredit has made a first-time loan of US$ 10 million [€9.3mln] to AfricInvest Private Credit [APC] to augment support for small and medium…
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Lira: PDM funds hit Shs 9.3 billion
LIRA, June 17, 2024 – Lira district has so far received Shs 9.3 billion under the Parish Development Model [PDM], a government programme aimed at moving 39 percent of the Ugandan population…
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Kabarole district boss warns SACCO leaders against misusing PDM funds
KABAROLE, June 17, 2024 – The Kabarole district LCV Chairperson, Richard Rwabuhinga has warned Parish Development Model [PDM] SACCO leaders against misusing the funds, saying the money is meant to support the…
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Uganda’s year-on-year coffee exports fetch Shs 4trn
KAMPALA, June 16, 2024 – Uganda’s coffee exports for the twelve months [June 2023-May 2024] totaled 6.02 million bags worth US$ 1.07 billion [about Shs 4 trillion] compared to 5.73mln bags worth…
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Kwania: SACCO leaders empowered with financial management skills
KWANIA, June 16, 2024 – In a bid to curb mismanagement of the funds under their control, leaders of the Parish Development Model SACCOs [PDM SACCOs] in Kwania district have been trained…
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Complying with EUDR: Smallholder coffee farmers at risk of being excluded from EU market
KAMPALA, June 15, 2024 – Smallholder coffee farmers in Uganda and the rest of the world are at risk of being excluded from the European Union [ EU ] market due to…
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