Credit
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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NEW DELHI-The Reserve Bank of India [RBI] in August announced that it had withdrawn the Pune-based Rupee Cooperative Bank’s banking licence and asked the Registrar of Cooperative Societies to liquidate it.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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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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Development
Russia-Ukraine conflict dampens Uganda’s growth prospects-BoU report
KAMPALA– The adverse global economic developments and higher domestic inflation have diminished the prospects for Uganda’s domestic economic growth, according to the Bank of Uganda [BoU] Monetary Policy Report June 2022. “The…
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East Africa
Kenya gets €89mln loan to bolster economic recovery
NAIROBI– The African Development Bank [AfDB] Group has approved an €89 million loan to boost the Kenyan government’s economic recovery efforts. The loan will provide funding for the second phase of Kenya’s…
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