Credit
-
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NEW DELHI-The Reserve Bank of India [RBI] in August announced that it had withdrawn the Pune-based Rupee Cooperative Bank’s banking licence and asked the Registrar of Cooperative Societies to liquidate it.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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
News
Banks post 26.9 percent profit as sector remains resilient to potential shocks
KAMPALA– Year on year, commercial banks’ aggregate net profits after tax (NPAT) increased by 26.9 percent to Shs 1,073.9 billion in the year ending December 2021 from Shs 846.2bln in the previous…
Read More » -
News
BoU raises CBR to 7.5 percent in June
KAMPALA– The current global inflationary pressures have forced the Bank of Uganda [BoU] to raise the Central Bank Rate [ CBR ] by 1 percentage point to 7.5 percent, from 6.5 percent…
Read More » -
News
South Sudanese refugees establish own Sacco
LAMWO– After failing to access loans from commercial banks and other financial institutions, South Sudanese refugees in Lamwo Refugee Settlement have decided to form their own Paluda Farmers’ Sacco to serve them…
Read More »