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BRAC Uganda Bank launched

    Kampala, Uganda | THE INDEPENDENT | BRAC, one of the largest microfinance providers in Uganda, has been transformed into a Tier 2 Credit Institution (CI) to broaden the range of financial services it provides to low-income communities. First Deputy Prime Minister General Moses Ali represented President Yoweri Museveni …

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No real development in Africa without regional integration

UN’s Assistant Secretary-General Ahunna Eziakonwa is the new Director of the Regional Bureau for Africa of the United Nations Development Programme (UNDP). She spoke to Africa Renewal’s Kingsley Ighobor on issues pertaining Africa’s socio-economic development. In the recently released World Economic Situation and Prospects for 2018 report, Africa’s economic growth …

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Parliament slashes BOU capitalization fund

Kampala, Uganda | THE INDEPENDENT | Parliament has rejected a proposal by the government to allocate sh484.2 billion to recapitalize the Bank of Uganda (BOU) , reducing it to sh200 billion. The changes were made on Friday as Parliament adopted the report by parliament’s Finance Committee on the Finance Sector …

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Boeing says suffering $1 bn hit from 737 MAX crisis

New York, United States | AFP | Aviation giant Boeing has suffered a $1 billion hit to its bottom line amid the crisis over its 737 MAX aircraft after two deadly crashes that grounded the plane and halted deliveries, the company said Wednesday. Boeing also withdrew its 2019 profit forecast due …

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Kenya’s hunger games

Why some Kenyans are going hungry months after a bumper maize crop | Timothy Njagi Njeru | Why are people going hungry in April after a bumper crop of staple maize was harvested last year? Distribution remains a persistent challenge when it comes to food access in Kenya. There has …

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Stanbic’s new revenue stream

The bank is eyeing fin-tech, insurance, fund management and stock brokerage cash Kampala, Uganda | JULIUS BUSINGE | On April 10, Stanbic Bank might have given hope to its shareholders that they will earn more money in the near future estimated to be more than Shs300bn in net profit. The …

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