Kampala, Uganda | THE INDEPENDENT | Absa Bank Uganda has been ordered to pay 6 billion Shillings for illegally selling a school after it failed to repay a loan it had contracted. According to the court records, in 2004, Progressive Secondary School and its proprietors applied for loans worth 1.2 billion …
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Kampala, Uganda | THE INDEPENDENT | Buying a car can be a stressful experience. With so many options to choose from, it is hard to know the best choice based on tastes and preferences. Fortunately, intensive research can eliminate stress and save the buyer money in the long run. Gasta Kevin …
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Eight regional training sessions targeting 1,130 SMEs were conducted in different parts of the country in preparation for access to credit Kampala, Uganda | THE INDEPENDENT | Uganda Development Bank, the country’s national development finance institution has reported a 52% surge in loan portfolio to Shs1.2trillion for the year ended December …
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Kampala, Uganda | THE INDEPENDENT | The meeting between the House Committee on National Economy and Uganda Civil Aviation Authority (CAA) ended prematurely, when the aviation regulator failed to provide proper accountability for a loan worth US $199, 990,416. The loan, obtained from Export-Import Bank of China in 2016 aimed at …
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Kampala, Uganda | THE INDEPENDENT | The Committee on National Economy has expressed displeasure with Kampala Capital City Authority (KCCA)’s utilization of the US$175 World Bank loan saying the quality of works does not correlate with the value of money. MPs on the committee said that despite the funding, the works especially …
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Kampala, Uganda | THE INDEPENDENT | Ecobank Uganda has launched its Edusave loan contribution campaign as it seeks to ease the school fees burden faced by many parents across the country during the ongoing back-to-school season. Unveiled on Feb.09, the campaign’s goal is to provide parents and families with affordable, flexible, …
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Kampala, Uganda | THE INDEPENDENT | Lawmakers have criticised the National Social Security Fund (NSSF) for giving Uganda Clays an unsecured loan of Shs11 billion. This was during a meeting between NSSF management and the select committee investigating allegations of the fund’s mismanagement on Wednesday, 08 February 2023. The Chairperson of …
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Cairo, Egypt | Xinhua | The International Monetary Fund (IMF) said on Friday that its executive board had approved a loan to Egypt of about 3 billion U.S. dollars over 46 months. The decision enables an immediate disbursement of about 347 million dollars to Egypt, “which will help meet the balance of …
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Kampala, Uganda | THE INDEPENDENT | To support universal and affordable broadband access in Africa, and the opportunities that come with increased connectivity, IFC announced a loan to Airtel Africa to help connect millions of new subscribers to mobile internet in six African countries. IFC will provide six of Airtel Africa’s …
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Kampala, Uganda | THE INDEPENDENT | Parliament’s Committee on National Economy has asked Finance State Minister, Henry Musasizi for details on the actual intended disbursements of the loan before they can give their nod of approval. Shadow Finance Minister, Muhammad Kivumbi objected asking for details of the disbursement, a request he said …
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