Assets
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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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Finance & Banking
Standard Chartered Bank sets pace with launch of offshore mutual funds
KAMPALA-Standard Chartered Bank Uganda on Monday launched offshore mutual funds product for their clients during a press conference held at Kampala Serena Hotel and presided over by the Bank’s CEO, Sanjay Rughani,…
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International
CHS to build new grain shuttle facility
SIOUX FALLS– CHS Inc., a farmer-owned cooperative in the United States, will begin construction this spring on a new grain shuttle facility in southeast South Dakota, a strategic location in its Pacific…
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Cooperatives & Communities
BoU tasked to explain sale of Cooperative Bank assets
KAMPALA-The Office of the Solicitor General has asked the Bank of Uganda [ BoU ] to explain the process regarding the sale of assets belonging to the defunct Cooperative Bank established in…
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Cooperatives & Communities
Keep saving with Wazalendo SACCO, general tips UPDF retirees
MBARARA – Maj. Gen. Francis Takirwa, the deputy commander Land Forces in Uganda People’s Defence Forces [UPDF], has appealed to the retirees of the Force to keep saving with Wazalendo SACCO [WSACCO],…
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International
Dominican Republic cooperative latest to join ICA
BRUSSELS-The International Cooperative Alliance [ICA] reports it welcomed a new member last December: Cooperativa de Ahorro y Credito Herrera, Inc. from the Dominican Republic. According to ICA, COOP-HERRERA is a savings and…
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International
Crucial legislation for UK co-operatives taken forward by government
LONDON-Co-operatives UK is celebrating after government days ago announced it was taking forward crucial legislation giving co-operative societies the option of legally guaranteeing that their assets are held in common. Sir Mark…
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Africa
Partners to unlock the entrepreneurial capacity of women-led enterprises in Africa
NAIROBI-Africa Enterprise Challenge Fund [AECF] and the Africa Development Bank Group’s Affirmative Finance Action for Women in Africa [AFAWA] initiative have partnered to scale and realise the entrepreneurial capacity, feasibility and sustainability…
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