Commercial Banks
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News
Banks issued Shs 1.5trn in loans ahead of festive season
KAMPALA, 4 January 2025 – The Government has reported that commercial banks in Uganda extended loans amounting to at least Shs 1.5 trillion to various clients in the lead-up to the Christmas…
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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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