Kampala, Uganda | GODFREY SSALI | President Yoweri Museveni has cautioned members of Savings and Credit Cooperative Societies (SACCOs) on the habit of non repayment of loans saying it is the reason why many SACCOs and credit institutions have collapsed. This was contained in his speech read by the State …
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Kampala, Uganda | THE INDEPENDENT | The top stories in this week’s The Independent. COVER STORY Loans saga: Matia Kasaija and his team at the Finance Ministry find themselves in a very tight corner as they look for Shs29.2 trillion to finance a new budget BUSINESS Inside the SGS contract saga: …
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Kampala, Uganda | GODFREY SSALI | The Speaker of Parliament Rebecca Alitwala Kadaga has directed the Auditor General John Muwanga to conduct a special audit into the account of the Treasury, to establish how and where the $200 million that was meant to purchase drugs was spent. Kadaga ruled on …
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The government students’ loan scheme for the financial year 2017/2018 may not have any beneficiaries after the ministry of finance could not avail funds to the ministry of education for the scheme. The Minister for Education and Sport Janet Museveni told the parliament committee on education and the sports that …
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New Delhi, India | AFP | The recent arrest of Vijay Mallya highlighted the problem of bad loans in India, but analysts say the tycoon’s unpaid debts are just the tip of an iceberg that is already holding back the country’s economic growth. The multimillionaire owner of a Formula One …
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The African Development Bank (AfDB) has assured President Yoweri Museveni that they are planning several interventions that will bring down the electricity tariffs in Uganda. AfDB president Akinwumi Adesina gave the assurances after Museveni expressed concern over the high cost of electricity, which he says is not coming down until an AfDB bank …
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Beijing, China | AFP | Hundreds of photos and videos of naked women used as collateral for loans on a Chinese online lending service have leaked onto the web, highlighting regulatory problems in the fast-growing peer-to-peer marketplace. A 10-gigabyte file posted on the internet exposed the personal details of more …
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COMMENT: Colin Asiimwe Using shame to understand and combat financial inclusion communication challenges for clients A few months ago, a client came to us at Metropolitan Republic Uganda with a problem. To solve it we had to understand the mindset and attitudes behind many peoples’ aversion to banks and formal financial …
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Lagos, Nigeria | AFP | The African Development Bank has approved the first installment of a $1 billion loan to Nigeria to help President Muhammadu Buhari combat a “crisis situation”. In a Wednesday press release, the AfDB said that the $600 million loan was the “first tranche of a US …
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VIDEO: Funds acquired by government remain idle in the national treasury as the tax payer continues to pay sh60 billion per month as interest on the acquired loans. The practice according to information available to the Public Accounts Committee of parliament has lasted six years. The revelations come after the Secretary …
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The Independent Uganda: You get the Truth we Pay the Price