debt
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News
Bitature accepts USD10mln loan, says negotiations with Vantage ongoing well
KAMPALA– Kampala businessman, Patrick Bitature has finally accepted that he indeed borrowed US$ 10 million from Vantage Mezzanine Fund in December 2014 and is willing to pay, as negotiations, including arbitration, as agreed…
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Cooperatives & Communities
BKCU grappling with debts ahead of next AGM
MBARARA– Preparations are in high gear as the debt-ridden Banyankole Kweterana Cooperative Union [BKCU] Limited prepares to hold its 49th Annual General Meeting [ AGM ] this Friday, over three weeks from the…
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Tobacco farmers demand for Shs.7 billion from Continental Tobacco Company
TEREGO – More than 100 tobacco farmers from Wandi, Terego district protested against Continental Tobacco Company, demanding a total of Shs.7.9 billion from the company. The money accrued since 2018 from the…
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Cooperatives & Communities
The end of China’s runaway growth
Decades of double-digit growth have produced five problems that Chinese leader Xi Jinping hopes to correct with his “New Development Concept.” Will it work? CHINA – Two weeks ago, the concourse outside…
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Cooperatives & Communities
Civil Servants’ SACCO Grapples With Shs 60 Million Debt
MASINDI – Masindi Civil Servants’ Savings and Credit Cooperative Society Limited is grappling with over Shs 60 million debts, Nasur Ibrahim the SACCO Chairperson has said. “All the share capital for the…
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Cooperatives & Communities
Gulu Sells District Land To Pay Sacked Employees
GULU – Saddled with a soaring debt load, Gulu District Local Government has sold at least 30 plots of district land to pay off about Shs 6 billion in compensation to local…
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Cooperatives & Communities
Sebei Elgon Cooperative Union stuck with Shs 500m debt.
The new management of Sebei Elgon Cooperative Union, one of the oldest cooperatives in Eastern Uganda, is currently stuck with a Shs 500m debt accumulated during previous board’s tenure. According to Elisha…
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