interest rates
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Cooperatives & Communities
Hot debate in parliament over money lender’s death
KAMPALA – The murder of Uttam Bhandari, a city money lender by a police officer, Ivan Wabwire, has stoked debate in parliament on mental health, minimum wage and exorbitant interest rates in…
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Cooperatives & Communities
Boda boda association to collect over Shs 280mln
GULU – Gulu West Boda Boda Association expects to collect Shs 288 million from members in the financial years 2023 /2024 and 2024/ 2025. Emmy Ocen, the chairperson of the commercial riders’…
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Cooperatives & Communities
Rakai farmers form own SACCO to provide cheap credit for production
RAKAI– At least 100 coffee and dairy farmers in Kacheera Sub-county in Rakai district have formed their own SACCO [Kacheera Sub-county Coffee and Dairy Farmers SACCO] to provide members with cheap loans…
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Cooperatives & Communities
Bushika Cooperative in need of greenhouse for coffee drying
BUDUDA – To avoid being derailed by the weather changes, especially rains, Bushika Integrated Area Cooperative Enterprise Limited in Bududa district, plans to establish a greenhouse for coffee drying, its officials say.…
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Finance & Banking
Commercial banks continue to raise lending rates
In line with the tight monetary policy stance, lending rates in Uganda have exhibited an upward trend with commercial banks raising their prime lending rates by one percentage point on average, according…
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Cooperatives & Communities
Pooling resources: UCSCU SACCOs raise over Shs 890mln for re-capitalisation
KAMPALA – SACCOs subscribing to Uganda Cooperative Savings and Credit Union [UCSCU] have pooled resources of about Shs 897 million to re-capitalise members as they grow their businesses. Through the central finance…
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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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International
MENA economies grow 5.5 percent but benefits are uneven
WASHINGTON-The economies of the Middle East and North Africa [MENA] region are expected to grow by 5.5 percent this year —the fastest rate since 2016—followed by a slowing of growth to 3.5…
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Cooperatives & Communities
Post Bank Uganda to become agriculture bank!
KAMPALA– Operation Wealth Creation [OWC] officials have asked government to transform Post Bank Uganda into an agriculture bank so that farmers in the country can access low interest loans to fund their…
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News
Legislators to have midterm access to pension contributions
KAMPALA-Members of the Parliamentary Pension Scheme are poised to access 20 percent of the money they contributed if President Museveni assents to an amended bill. The Parliamentary Pensions [Amendment] Bill, 2022, introduced…
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