Tag Archives: loans

Kampala, Uganda | THE INDEPENDENT | Lenders are hoping that the general elections will be peaceful so that their businesses return to normal. Like many other sections of the economy, the financial sector was still trying to recover from the effects of the Covid-19 pandemic when the climax of the election …

Kampala, Uganda | THE INDEPENDENT | A report by the Ministry of Finance, Planning and Economic Development indicates that banks gave out loans worth 2.65 trillion shillings to the private sector in the first quarter of the financial year 2020/2021. The pre-election economic and fiscal update issued by Moses Kaggwa, the …

Kampala, Uganda | THE INDEPENDENT | The financial sector forecast is that the full effect of the Covid-19 pandemic will be realized in the next two years when investments and projects that were started earlier were supposed to have started yielding returns. The real bad effect of the pandemic has not …

Why our country continues to take more and more loans and what this means for the economy THE LAST WORD | ANDREW M. MWENDA | Uganda is at a crossroads. Early this year, government passed a budget of Shs32 trillion for the 2020/2021 Financial Year. It also projected to collect …

Kampala, Uganda | THE INDEPENDENT | State agencies overseeing infrastructure development have put the blame on the errant government officials and the procurement regime for the delays in implementing public infrastructure projects. This comes after Finance Minister Matia Kasaija challenged Prime Minister Dr Ruhakana Rugunda to find ways of ensuring …

Kampala, Uganda | THE INDEPENDENT | Parliament has tasked the Finance Ministry to investigate Platinum Credit Limited and Bayport for alleged exploitation of borrowers. Platinum Credit Limited is a micro finance company that offers emergency loans to borrowers among others. Bayport on the hand offers short term loans, medium-term loans, …

Nairobi, Kenya | XINHUA | The African Union (AU) is planning to put in place a guarantee scheme for micro, small and medium-sized enterprises (MSME) to speed up the continent’s economic transformation, an official said on Wednesday. Amine Idriss Adoume, director in charge of delivery program and coordination at the …

Kampala, Uganda |  THE INDEPENDENT  Businesses should desist from putting their main income generating assets as collateral to get loans from banks, an expert has said. Sarah Mbinji, an International Finance Corporation trainer, said on Wednesday that using your cash-cow asset as security to get a loan would be akin to …

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has named commercial banks charged borrowers lowest rates between January and June 2020, effectively making them the cheapest lenders for debtors to run to. Absa bank, Baroda, Bank of India, Citibank, Ecobank, NC Bank, Stanbic Bank, Standard Chartered Bank, United Bank of …

  Kampala, Uganda | THE INDEPENDENT | Police forensic and cyber teams are probing circumstances under which more than 6,700 people including police officers and teachers lost their money in loan scams over the last one year. It is alleged that the police officers, teachers and other public servants were …