Credit
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Cooperatives & Communities
Mutukula: Women traders want more cooperatives formed
MUTUKULA– Women traders under the Uganda Women Cross border Union have asked government to support women in forming more cooperatives at the country’s border posts. Jane Benuza, the Secretary General of Uganda…
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International
ICA welcomes new members in 2022
LONDON-The International Cooperative Alliance [ICA] recently welcomed two members in September: Cooperativa de Ahorro y Crédito CACEENP Limitada from Honduras and Coopérative Centrale d’épargne et de crédit du Kivu [COOCEC-KIVU] from the…
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Finance & Banking
BoU CBR spiked to 10 percent as inflation rises again
KAMPALA-The Bank of Uganda [ BoU ] has in the Monetary Policy Statement [MPS] for October 2022, raised the Central Bank Rate [CBR] to 10 percent from 9 percent previously. That followed…
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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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Cooperatives & Communities
Kyotera project gathers over 700 SACCOs to raise capital for members
KYOTERA-At least 730 community-based Savings and Credit Society Co-operatives [SACCOs] in Kyotera district have come together under a new arrangement to raise more funds for members as they engage in income-generating activities.…
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Cooperatives & Communities
Indian 110-year-old Rupee Cooperative Bank liquidated
NEW DELHI-The Reserve Bank of India [RBI] in August announced that it had withdrawn the Pune-based Rupee Cooperative Bank’s banking licence and asked the Registrar of Cooperative Societies to liquidate it. The…
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International
SECU donates US$ 300,000 to WFCU for global program
RALEIGH, N.C. -State Employees’ Credit Union [ SECU ] announces its continued commitment to Worldwide Foundation for Credit Unions [WFCU], the engagement and charitable arm of the World Council of Credit Unions, by committing US$ 300,000…
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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
Theme for this year’s International Credit Union Day theme announced
WISCONSIN-World Council of Credit Unions [Woccu] has released official posters and logos for the day, which will be celebrated on October 20, 2022. This year’s International Credit Union [ICU] Day takes the theme Empower…
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Cooperatives & Communities
Return to ‘In Person’ a Rousing Success for 2022 World Credit Union Conference
GLASGOW —The 2022 World Credit Union Conference concluded Wednesday with a Scottish-themed closing party that put the finishing touches on a spectacular four-day event at the Scottish Events Campus. 1,600 credit union…
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