interest rates
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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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Cooperatives & Communities
Stanbic Bank Uganda courts MPs in push for women’s financial inclusion
KAMPALA – Stanbic Bank Uganda has sought the support of the Members of Parliament as it popularises in the country its women’s financial empowerment programme dubbed, Stanbic for Her, aimed at providing…
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Cooperatives & Communities
Minister asks SACCOs to charge low interest rates
KAMPALA– Savings and Credit Cooperatives Organisations [SACCOs] in the country must not charge members above 18 percent interest on loans taken, Haruna Kasolo Kyeyune, the State Minister for Microfinance has said. Minister Kasolo…
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