Financial
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Mbarara City official arrested for stealing salon money
MBARARA– Mbarara City Assistant Commercial Officer Donati Mutaahi and three others have been arrested by the police over the embezzlement of Shs10 million belonging to Emyooga SACCO of salon operators. Mutaahi who…
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BKCU grappling with debts ahead of next AGM
MBARARA– Preparations are in high gear as the debt-ridden Banyankole Kweterana Cooperative Union [BKCU] Limited prepares to hold its 49th Annual General Meeting [ AGM ] this Friday, over three weeks from the…
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Woccu webinar describes efforts to support credit unions in Ukraine
USA – The World Council of Credit Unions (Woccu) and the Regional Credit Union Center (RCUC) for Central and Eastern Europe recently hosted a virtual event to explore the realities on the…
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BoU holds CBR at 6.5 percent for April 2022
KAMPALA – The Bank of Uganda [BoU] has maintained the Central Bank Rate (CBR) at 6.5 percent. The decision was taken during the Monetary Policy Committee (MPC) meeting of April 2022. BoU…
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Gulu City resumes lending to Emyooga Saccos amidst low recovery of funds
GULU- Authorities in Gulu City have resumed the disbursement of Emyooga funds to different Savings and Credit Cooperative Societies [Saccos], even though the officials face hurdles in the recovery of the funds…
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Soroti leaders decry low funds allocated to PWDs
SOROTI – Soroti City leaders want the money allocated under the Special Grant for Persons with Disabilities [PWDs] to be increased by the Ministry of Gender, Labor and Social Development [MGLSD], saying…
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High fuel prices hit Gulu farmers hard as some fail to open up farmlands
GULU– High prices of fuel have forced farmers in Gulu district to stop the use of tractors in the opening of their farmlands as they prepare for the new planting season. Currently,…
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US$2bln facility geared to African banks and FIs
KAMPALA– The Africa Finance Corporation (AFC) will on Thursday this week in a webinar present the US$2billion facility to provide African banks and financial institutions [FIs] with liquidity to support Africa’s economic…
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UMPCU to hold AGM this May
KAMPALA-Member cooperatives of Uganda Meat Producers Cooperative Union [UMPCU] Limited will hold their Annual General Meeting [AGM] on May 26, 2022, according to the Union’s Board Secretary James Tukaikiriza. UMPCU is owned…
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Kenya’s SACCOs richest in Africa with US$13.64bln in total assets
NAIROBI – Savings and Credit Co-operative Societies (Saccos) in Kenya are the wealthiest in Africa by total assets, according to the new World Council of Credit Unions’ (WOCCU) 2020 Statistical Report. According…
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