Kampala, Uganda | THE INDEPENDENT | Uganda National Teachers Union-UNATU is concerned about multiple loans acquired by teachers. Several primary school teachers abandon classes in fear of being arrested after obtaining multiple loans from money lenders, which has disrupted classes. Zadock Kamusiime the UNATU National chairperson says that it …
Read More »President Museveni defends Chinese loans
Entebbe, Uganda | THE INDEPENDENT | President, Yoweri Museveni has praised the Chinese Government for extending loans to Uganda and Africa where other partners have been hesitant. He was fielding questions at a press conference he jointly addressed with visiting Zimbabwean President Emmerson Mnangagwa at State House Entebbe ahead of today’s …
Read More »Multiple registration, borrowing frustrates growth of SACCOs in Sembabule
Sembabule, Uganda | THE INDEPENDENT | Multiple registration and borrowing are frustrating the growth of Savings and Credit Cooperative Societies-SACCO’s in Sembabule district, according to the authorities. SACCO’s are member-founded microfinance institutions established to promote the saving culture and address the financial needs of members in terms of extending credit. However, …
Read More »Investors cautioned against mortgaging gov’t land for loans
Kampala, Uganda | THE INDEPENDENT | Government has directed that no investors should use government land leased to them as a security to acquire loans in any financial institution. In a letter to heads of three agencies – Uganda Investment Authority, Uganda Land Commission, and the Uganda Free Zones Authority – …
Read More »Let us look beyond financing if we are to understand agriculture problems
Kampala, Uganda | THE INDEPENDENT | In debating just access to loans to farmers alone, the country is missing key ingredients that make the agriculture sector unattractive to financiers. This was the key message at the annual bankers’ conference at Serena hotel on Tuesday where banking executives discussed how they can …
Read More »Agriculture tops Uganda’s January loan portfolio
Kampala, Uganda | THE INDEPENDENT | Agriculture might be finally catching financiers’ eye, with money disbursed to farmers topping all other sectors in January, according to official figures. Statistics from the Finance and Economic Development Ministry show that agriculture received 28% (Sh 283bn) of all loans disbursed in January up …
Read More »Shilling loans grow by 18.5 percent
Kampala, Uganda | THE INDEPENDENT | Credit in shillings to the private sector has grown significantly from about four percent to 18.5 percent in 2018, according to the Bank of Uganda. The executive director research and policy Adam Mugume says people are borrowing more shilling-denominated loans than dollar-denominated ones because of …
Read More »IMF board approves new Ukraine loan package, releases $1.4 bn immediately
Washington, United States | AFP | The International Monetary Fund executive board on Tuesday gave final approval to a new loan package for Ukraine and released $1.4 billion for immediate use. The IMF had agreed on the $4 billion, 14-month loan in mid-October but the board was waiting for the …
Read More »World Bank shareholders approve $13 bln capital increase
Washington, United States | AFP | World Bank shareholders approved a “historic” increase in the bank’s lending capacity Saturday after the United States backed a reform package that curbs loans and charges more for higher income countries like China. World Bank President Jim Yong Kim said neither China nor any …
Read More »IMF releases additional $257 mn for Tunisia
Washington, United States | AFP | The International Monetary Fund on Friday released an additional $257 million in funds for Tunisia as part of its four-year, $3 billion loan agreement. The IMF board approved the second review of the country’s economic performance under the financial aid package that was initially …
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