Regulation
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Cooperatives & Communities
Kenya: Cooperatives Bill to re-energise growth of the sector
NAIROBI, November 10, 2023 – The government of Kenya has reiterated its commitment to creating an enabling environment for a robust cooperative sector in the country, according to Kenya News Agency. The…
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Cooperatives & Communities
MTIC issues deadline for co-ops to validate registration status
KAMPALA-The Ministry of Trade, Industry and Cooperatives [MTIC] has issued a compliance notice to all cooperative societies in Uganda, requiring those whose probationary certificates are due to expire in three months or…
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Finance & Banking
Uganda scores high in 2022 Absa Africa Financial Markets Index
KAMPALA– African countries have responded positively to the need to develop domestic financial markets to protect economies from external shocks, Officicial Monetary Financial Institutions Forum [OMFIF] said as it released 2022 Absa…
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Cooperatives & Communities
Indian 110-year-old Rupee Cooperative Bank liquidated
NEW DELHI-The Reserve Bank of India [RBI] in August announced that it had withdrawn the Pune-based Rupee Cooperative Bank’s banking licence and asked the Registrar of Cooperative Societies to liquidate it. The…
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International
Professional co-operators introduce guidelines to root out co-operative quacks
NAIROBI-Kenya Society of Professional Co-operators [KSPC], a sector professional organisation in the cooperative movement of Kenya, has come up with regulation guidelines that seek to root out cooperative quacks, Sacco Review reports. According…
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News
Banks post 26.9 percent profit as sector remains resilient to potential shocks
KAMPALA– Year on year, commercial banks’ aggregate net profits after tax (NPAT) increased by 26.9 percent to Shs 1,073.9 billion in the year ending December 2021 from Shs 846.2bln in the previous…
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Northern
Lira City bans vendors, hawkers from streets
LIRA – Authorities of Lira City have banned market vendors, produce dealers and hawkers from transacting any business on pavements, walkways and streets. According to the Town Clerk of Lira City, Edward Kiwanuka…
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East Africa
Stanbic bank profit up by 12%
KAMPALA – Uganda’s biggest bank by assets Stanbic saw its profit before tax rise up by 12% to Shs 359.6 billion in 2021 from Shs 320.7 billion previously. The lender said in…
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