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Cooperatives & Communities
Gulu cooperatives to be probed over mismanagement, unprofessionalism
GULU-Plans are underway to probe cooperative societies in Gulu district over allegations of mismanagement, unprofessionalism, and operating under closed doors. According to Gulu district commercial officer, Patrick Ojok Lakica, several members belonging…
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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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Cooperatives & Communities
BoU readying to regulate big SACCOs, pledges to work with UCSCU
KAMPALA– The Microfinance Deposit-Taking Institutions [Registered Societies] Regulations, 2022, will enable the Bank of Uganda [BoU] to license and supervise large SACCOs in the country as mandated under the Tier 4 Microfinance…
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Cooperatives & Communities
Top officials of dairy cooperative in trouble over Shs 600mln UDB loan
KIKUUBE-Top officials of Kyangwali Dairy Cooperative Society Limited in Kikuube district are in trouble for allegedly mismanaging Shs 600 million borrowed from the Uganda Development Bank [ UDB ]. Julius Kwesiga and…
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International
Crucial legislation for UK co-operatives taken forward by government
LONDON-Co-operatives UK is celebrating after government days ago announced it was taking forward crucial legislation giving co-operative societies the option of legally guaranteeing that their assets are held in common. Sir Mark…
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Cooperatives & Communities
WSACCO ready to spend heavily on supplies
KAMPALA-Uganda’s leading SACCO-Wazalendo SACCO [ WSACCO ] is ready to spend more money on services and tangible goods if were are to go by a running newspaper advert shared by its CEO…
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Cooperatives & Communities
Minister warns boda-boda riders against lavish spending
KYOTERA– The Minister of State for Micro-finance, Haruna Kasolo has warned boda-boda cyclists against wasteful spending, urging them to instead spend more on activities that boost their incomes. Speaking at the opening…
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East Africa
Radical changes in the draft Co-operatives Bill
NAIROBI-Co-operative Societies will soon be allowed to sell and purchase members’ shares and trade capital instruments through a Co-operatives platform if the Cooperatives Bill 2021 is passed. If the Bill is passed…
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East Africa
Kenya to have court for cooperatives
NAIROBI-Disputes in Kenya’s co-operative sector will now be handled by the Co-operative Court which will stand on its own aside from the existing Co-operative Tribunal, if the draft bill will be enacted…
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Africa
Kenya co-ops top in Africa, says WOCCU report
NAIROBI-Co-operatives in Kenya top in African content with high membership and wealth, a new Statistical Report by the World Council of Credit Unions [ WOCCU ]shows. The report indicates that 9,041 Co-operative…
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