Assets
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News
Stanbic Bank cuts interest rate to 19.50 percent
KAMPALA, October 30, 2024 — Uganda’s largest bank by assets, Stanbic Bank, has reduced its local currency prime lending rate [PLR] to 19.50 percent from 19.75 percent, effective December 1, 2024. This…
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News
SACCO Supervision Annual Report 2023 released in Kenya showing industry growth
NAIROBI, September 15, 2024 – The Kenyan Cabinet Secretary for the Ministry of Cooperatives, Micro, Small & Medium Enterprises [MSMEs], FCPA Wycliffe Ambetsa Oparanya recently released the SACCO Supervision Annual Report 2023…
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News
Bankers in Uganda elect new leadership
KAMPALA, May 22, 2024 – Local banks under the umbrella of Uganda Bankers’ Association [UBA] have elected new leaders to run the affairs of the association effective May. The new UBA leaders…
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News
Parliament: legislators’ pension scheme to reduce investments in Kenya
KAMPALA, February 24, 2024 – The Parliamentary Pension Scheme [PPS] is considering a reduction of the scheme’s equity investments in Kenya in favour of the stable home market. This was revealed yesterday…
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Cooperatives & Communities
Tayebwa urges Parliamentary SACCO to start own bank
The Deputy Speaker of Parliament, Thomas Tayebwa has advised the leaders of the Parliamentary SACCO to establish their own bank in order to serve the wider public. Tayebwa who was presiding over…
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International
New ICMIF report confirms members have US$ 1trn in assets
MANCHESTRER, November 2023 – International Cooperative and Mutual Insurance Federation [ ICMIF ] members have US$ 1 trillion in assets under management in investments which are aligned to sustainable investment frameworks, according…
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National
Journey to revive Cooperative Bank begins as gov’t inaugurates steering committee
KAMPALA– Cooperators in Uganda could soon have access to cheap and appropriate financing after the government on Tuesday inaugurated a steering committee to revive the defunct Cooperative Bank whose assets were taken over…
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East Africa
Kenya’s Tai SACCO total assets grow to Ksh4.1bln
NAIROBI– Despite a difficult economic environment in the country, Kenya’s Tai SACCO posted an impressive financial performance in the year ended December 31, 2022, posting Ksh 4.1 billion in total assets, its…
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Finance & Banking
Centenary Bank posts 11.4 percent growth as rivals dispute Auditor General on undercapitalisation claims
KAMPALA – Centenary Bank had its gross profit rise by 11.4 percent to Shs 321.2 billion in the year ended December 31, 2022, from Shs 288.5bln posted in 2021, the bank’s managing…
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Cooperatives & Communities
SHEEMA: Shuuku SACCO warned over bribery
SHEEMA– SACCO officials and members in western Uganda have been warned against engaging in bribery while processing loans. The call was made by Prof. Ephraim Kamuntu in Sheema district while speaking at…
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