Financial
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Uganda Prisons SACCO loan book rise 31% in 2021
KAMPALA – Uganda Prisons Service (UPS) Savings and Credit Cooperative Society [SACCO] saw a growth in loans to members in 2021 as they rose by 31% to Shs 7.3 billion from Shs…
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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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Ugandans roast PS Ggoobi on Twitter over controversial coffee deal
MBALE – On April 15, 2022, at 9: 06 am, Finance ministry Permanent Secretary [PS] /Secretary to the Treasury, Ramathan Ggoobi, in a lengthy explanation, twitted, “Dear Ugandans, I am minded to…
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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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Kaberamaido youth abandon tractor over Shs 5m debt
KABERAMAIDO-Kaberamaido youth have abandoned a tractor in the hands of a mechanic after failing to clear a bill of about Shs 5.4 million. The tractor Reg. No. UAW 096V was donated to…
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French co-ops take 25 percent of global turnover of top 100 co-ops
PARIS – New research which compares French co-operatives to those in Europe and other countries puts them ahead of those in Germany, Japan and the US. Conducted by economist Olivier Frey for…
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Power Forex International cons public of Shs1.8b
LIRA– At least 2,000 people in Lango, Acholi, West Nile and Bunyoro sub-regions have been conned in a dubious online deal by Power Forex International, a company with headquarters in Kampala, according…
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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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