Banks
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News
Banks post 26.9 percent profit as sector remains resilient to potential shocks
KAMPALA– Year on year, commercial banks’ aggregate net profits after tax (NPAT) increased by 26.9 percent to Shs 1,073.9 billion in the year ending December 2021 from Shs 846.2bln in the previous…
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News
South Sudanese refugees establish own Sacco
LAMWO– After failing to access loans from commercial banks and other financial institutions, South Sudanese refugees in Lamwo Refugee Settlement have decided to form their own Paluda Farmers’ Sacco to serve them…
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Cooperatives & Communities
Kenyan regulator cuts levy for new Saccos
NAIROBI– Kenyan Sacco Societies Regulatory Authority [ Sasra ], has cut the proposed annual fees for SACCOs with non-withdrawable deposits to 0.15 percent from 0.165 percent as earlier proposed. The reduction follows…
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Cooperatives & Communities
Ntungamo farmers decry continued quarantine
NTUNGAMO– Cattle farmers in Ntungamo district are worried that a quarantine imposed on the movement of livestock and related products still remains in force following an outbreak of the infectious Foot and…
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Cooperatives & Communities
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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News
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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Cooperatives & Communities
Gen. Salim Saleh urges DCOs, Agricultural Officers to report on farmers’ demands
MBARARA – Gen. Caleb Akandwanaho a.k.a Salim Saleh, the Chief Coordinator of Operation Wealth Creation (OWC) has urged District Commercial Officers (DCOs) and Agricultural Officers including his own army officers in OWC…
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Cooperatives & Communities
This is why SACCO loans are more preferable than bank loans
If you’re keen enough you must have noticed that today more and more banks are pledging to lend cheaply to borrowers. This has seen Kenyans turn to SACCOs, with the proportion of…
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