Profit
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News
UNOC records Shs 37bln profit in financial year ended June 30, 2023
KAMPALA, May 28, 2024 – The Uganda National Oil Company [ UNOC ] generated a profit of Shs 37.6 billion surpassing their projected revenue of Shs 6.989bln in the financial year 2022/2023.…
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News
UNRA gives contractor more months to complete Alwi–Nebbi road upgrade
NEBBI, May 2, 2024 – To compensate for the lost time which affected the completion of tarmacking 33-kilometre Alwi-Nebbi road, the Uganda National Roads Authority [ UNRA ] has given more three…
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Cooperatives & Communities
MPs want PDM beneficiaries to have more access to banks
KAMPALA, November 23, 2023 – Members of Parliament have called for improved access to banking institutions to enable beneficiaries of the Parish Development Model [PDM] programme to receive funds. The MPs, who…
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International
New Zealand: The Cooperative Bank shares US$ 2.5mln profit with customers
WELLINGTON – The Cooperative Bank recently forked out US$2.5 million in rebates to customers across New Zealand. The Wellington-headquartered bank is 100 percent-owned by its customers, who are shareholders, and is also…
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Eastern
Lack of reliable power supply cripples business for Serere cooperative
SERERE – Due to a lack of reliable power supply, Kamurojo Growers’ Cooperative Society Limited is still grappling with low business activity, a year after the cooperative installed a rice huller to…
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Africa
ITC Supports coffee producers in Liberia through cooperative training
MONROVIA – The International Trade Centre [ITC] in partnership with the Farmers Union Network of Liberia [FUNL], has initiated a week-long training programme focused on the significance of cooperatives for coffee producers.…
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International
CICOPA celebrates International Workers’ Day
BRUSSELS – On May 1, 2023, CICOPA, the International Organisation of Industrial and Service Cooperatives [CICOPA] is celebrating International Workers’ Day, also known as Labour Day. As an organisation that believes in…
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Finance & Banking
Centenary Bank posts 11.4 percent growth as rivals dispute Auditor General on undercapitalisation claims
KAMPALA – Centenary Bank had its gross profit rise by 11.4 percent to Shs 321.2 billion in the year ended December 31, 2022, from Shs 288.5bln posted in 2021, the bank’s managing…
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Cooperatives & Communities
Masindi Teachers’ SACCO share capital grows
MASINDI– The share capital for Masindi Teachers’ SACCCO increased to Shs 65 million in 2022 from Shs 56mln in 2021, according to Joseph Rukundo, the outgoing SACCO chairperson. Rukundo disclosed the share…
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East Africa
Cooperative Bank of Kenya declares Ksh 5.7bln in dividend to be paid to cooperatives
NAIROBI– Cooperative societies which have a combined 64.5 shareholding in the Cooperative Bank of Kenya are poised to receive dividends amounting to Ksh 5.7 billion. This follows a significant growth in the…
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