Commercial Banks
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News
WSACCO CEO urges members to boost their savings
FORT PORTAL CITY, September 19, 2024 — Col. Joseph Freddy Onata, Chief Executive Officer of the Wazalendo Savings and Credit Cooperative Society [ WSACCO ], has encouraged members to increase their savings…
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News
AfDB and Rwanda sign partial credit guarantee agreement to support green and social initiatives
NAIROBI, June 5, 2024 – The African Development Bank [AfDB] and the Government of Rwanda have signed a partial credit guarantee agreement to support Rwanda’s mobilisation of financing for green and social…
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News
AfDB approves US$ 150mln for Trade & Development Bank
ABIDJAN, February 29, 2024 – The Board of Directors of the African Development Bank [AfDB] has approved a US$ 150 million Trade Finance Unfunded Risk Participation Agreement [RPA] facility between the AfDB,…
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National
Private sector credit grew 1.6 percent in September 2023, says new report
KAMPALA, November 28, 2023 – The stock of total outstanding private sector credit in Uganda grew by 1.6 percent to Shs 21.17 trillion in September 2023 from Shs 20.84trn in August 2023,…
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Northern
BoU injects Shs 800bln in agriculture
LIRA, October 21, 2023 – The Bank of Uganda [ BoU ] has so far disbursed Shs 800 billion to farmers in the country under the Agricultural Credit Facility [ACF] introduced by…
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Opinions & Commentary
Central banks can fight inflation without massive handouts to banks
LONDON, September 6, 2023 – To fight inflation, central banks have to increase interest rates. Their operating procedure consists of raising the rate of remuneration on commercial banks’ reserves held at the central…
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National
Private sector credit declined 0.2 percent in June 2023
KAMPALA – The total value of private sector credit [PSC] approved in June 2023 for disbursement by local commercial banks declined by 0.2 percent to about Shs 1.2 trillion, from about Shs…
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Cooperatives & Communities
Don’t rush to become MDIs, big SACCO told
MBARARA – The chairman Besania SACCO in Mbarara Benson Nduhura has advised thriving SACCOs in western Uganda to transform into multipurpose cooperatives to boost members’ savings instead of hurrying to become microfinance…
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Energy & Mining
Register your businesses to benefit from oil & gas sector, Masindi locals told
MASINDI– Proprietors of small and medium enterprises [SMEs] in Masindi district have been advised to formalise their businesses if they are to benefit from the different oil & gas sector opportunities available…
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Cooperatives & Communities
Govt will revive Cooperative Bank, says minister Bahati
KAMPALA– Government is in the initial stages of reviving the Cooperative Bank, according to State Minister for Trade, Industry and Cooperatives, David Bahati. Bahati made the revelation in Kampala on Tuesday during…
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