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Cooperatives & Communities
Tehri DCCB concludes AGM
NEW DELHI – Indian Tehri-Garhwal District Cooperative Bank [ DCCB ] organised its 65th Annual General Meeting days ago, which was attended by the state cooperation minister Dr Dhan Singh Rawat as…
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Cooperatives & Communities
Recovery rate for Emyooga funds in Lango Sub-region at 30 percent
LIRA – The loan recovery rate for Emyooga funds in Lango Sub-region currently stands at 30 percent, according to officials responsible for the government programme in the area. Lango Sub-region received has…
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Development
Bugisu women choking on loans from illegal money lenders
MBALE- There is a growing concern as some businesswomen in Bugisu Sub-region choke on small loans given by unlicensed money lenders. The unlicensed moneylenders nicknamed ‘Team No Sleep’ have caused havoc in…
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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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Cooperatives & Communities
Mayuge RDC gives money lenders ultimatum to return clients’ IDs
MAYUGE – The deputy resident district commissioner Mayuge, Trevor Solomon Baleke has issued an ultimatum to all money lenders in the district to return all national identification cards [ IDs ] confiscated…
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Development
Credit risk remains high as local banks see 7.1 percent profit growth
KAMPALA-Risks for commercial bank lending in the country remain elevated due to slow credit growth, lingering concerns over asset quality, and high write-offs as banks clean up their loan book of COVID-19…
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East Africa
Land, housing sectors take largest share of SACCO loans in Kenya
NAIROBI– A sectoral lending report by Kenya’s SACCO regulator, Sacco Societies Regulatory Authority [SASRA] puts the land and housing sectors of the Kenyan economy as the biggest borrowers of Sacco loans, accounting…
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International
Indian bank penalised for upgrading loan accounts without recovery
NEW DELHI– According to several Indian news outlets, Bassen Catholic Cooperative Bank [UCB], Vasai is regretting why it did not adhere to the recently issued directives governing accounting processes. This is after…
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News
Pay your loans, top govt officials warn Ugandans
KAMPALA– Ugandans who don’t want to pay back their loans are giving a bad image to the country, top government officials have said. The Finance Ministry Permanent Secretary and Secretary to the…
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News
Post Bank posts 15.8 percent growth in gross profit
KAMPALA – As Post Bank continues to celebrate the milestone of getting a Tier One License from Bank of Uganda [BoU] to operate as a fully-fledged commercial bank, latest financial statistics show the…
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