Bank of uganda
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News
Refugees excited over extension of financial services to settlement
KIKUUBE, August 19, 2024 — Refugees in Kyangwali Refugee Settlement in Kikuube district are celebrating the recent extension of financial services to their area, a development they say will greatly ease their…
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News
Lango farmers advised to join SACCOs
LIRA, July 18, 2024 – Farmers in Lango Subregion have been urged to join or form Savings and Credit Cooperative organisations [ SACCOs ] to benefit from programmes initiated by government, and…
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News
Petroleum Fund value now stands at Shs 246.6bln
KAMPALA, July 9, 2024 – The Petroleum Fund had Shs 246.6 billion as of June 30, 2023, compared to Shs 121.1bln as of June 30, 2022, according to the report of financial…
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News
Money lenders, SACCOs warned against holding clients’ IDs as collateral
KAMPALA, June 28, 2024 – Money lenders and, Savings and Credit Cooperatives [SACCOs] in the country that have a habit of holding on to national identity cards [ IDs] of their clients…
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Cooperatives & Communities
EBO SACCO in final touches to transform into MDI
MBARARA, June 19, 2024 – EBO SACCO located in Bwizibwera-Rutooma town council in Mbarara district, is in its final stages of transiting into a Microfinance deposit-taking institution [MDI] this year, having issued…
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News
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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Cooperatives & Communities
MADFA SACCO loan portfolio grows 39 percent
MASINDI, March 22, 2024 – Masindi District Farmers Association savings and Credit Cooperative Society Limited [ MADFA SACCO ] registered an increase in loan portfolio from Shs 3.5 billion in 2022 to…
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News
BoU warns banks over slow disbursement of ACF and SBRF loans
MBARARA CITY, March 18, 2024 – The Bank of Uganda [BoU] has asked commercial banks in the country to increase the speed at which they are disbursing loans under the Agricultural Credit…
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News
Uganda secures Shs 468bln loan from IMF
KAMPALA, March 7, 2024: The Executive Board of the International Monetary Fund [ IMF ] yesterday concluded the fifth review of Uganda’s Extended Credit Facility [ECF] Arrangement, enabling the immediate disbursement of…
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Africa
Nigerian lender to acquire 80 percent stake in Finance Trust Bank
KAMPALA, January 23, 2024 – Nigerian business group, Access Holdings has announced that its flagship subsidiary, Access Bank PLC (Access Bank) has entered into a definitive agreement with Uganda’s Finance Trust Bank…
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