cooperative bank
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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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News
Cooperators urged to mobilise Shs 300bln to capitalise National Cooperative Bank
MBARARA, May 10, 2024 – Cooperators, and cooperatives in Uganda have been told to be ready to raise Shs 300 billion to capitalise the new proposed National Cooperative Bank. According to the…
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Cooperatives & Communities
Co-operative Bank of Kenya to pay shareholders Ksh 8.8bln in dividends
NAIROBI, March 25, 2024 – The Co-operative Bank of Kenya has maintained a dividend of Ksh 1.5 per share for the year ended December 31, 2023 after it recorded a 5.2 percent…
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Cooperatives & Communities
South Africa: Politicians hold fruitful engagement on establishing specialised cooperative bank
JOHANNESBURG, September 22, 2023 – The Multi-Party Women’s Caucus [MPWC] in the Parliament of South Africa yesterday held a constructive and fruitful engagement with the Department of Women, Youth, and Persons with…
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Cooperatives & Communities
Deo Nsereko, former Cooperative Bank boss and senior cooperator dead
KAMPALA, September 18, 2023 – The former board chairman of the defunct Cooperative Bank, Deo Nsereko is dead, according to Milly Babalanda, the Minister for the Presidency. According to Babalanda, Nsereko who…
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International
New Zealand: The Cooperative Bank shares US$ 2.5mln profit with customers
WELLINGTON – The Cooperative Bank recently forked out US$2.5 million in rebates to customers across New Zealand. The Wellington-headquartered bank is 100 percent-owned by its customers, who are shareholders, and is also…
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National
Journey to revive Cooperative Bank begins as gov’t inaugurates steering committee
KAMPALA– Cooperators in Uganda could soon have access to cheap and appropriate financing after the government on Tuesday inaugurated a steering committee to revive the defunct Cooperative Bank whose assets were taken over…
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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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Cooperatives & Communities
BoU tasked to explain sale of Cooperative Bank assets
KAMPALA-The Office of the Solicitor General has asked the Bank of Uganda [ BoU ] to explain the process regarding the sale of assets belonging to the defunct Cooperative Bank established in…
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Cooperatives & Communities
FRONASA launches SACCO, calls for return of Cooperative Bank
MUKONO – The veterans’ wing of the Front for National Salvation [FRONASA] has launched a multi-purpose Sacco, calling on the government to re-open Cooperative Bank so that cooperators in Uganda can access…
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