Kampala, Uganda | THE INDEPENDENT | Bank of Uganda Governor Emmanuel Tumusiime-Mutebile has warned commercial banks that the central bank may be forced to impose limits on interest rates they can charge on loans. Mutebile, who appears to make a U-turn from an earlier position that banks can charge borrowers …
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Kampala, Uganda | THE INDEPENDENT | The amount of money where borrowers have not made any payments for at least three months grew by 15 percent to 783 billion Shillings between January and March 2020, the Bank of Uganda has said. This is a growth from 666.3 billion Shillings of …
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Kampala, Uganda | THE INDEPENDENT | Before the National Economy committee of Parliament discusses up to sh2.5 trillion in loans requests, there is increasing concern about the levels of government borrowing, despite assurances by the Finance Minister that the Uganda’s debts are still manageable. Parliament discussed and forwarded up to …
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Kampala, Uganda | THE INDEPENDENT | The Uganda Bankers’ Association has said that commercial banks have restructured loans to a tune of 2.02 trillion Shillings as a result of the effects of the COVID-19 lockdown on businesses. According to the Association’s Executive Director Wilbrod Owor, in the first month of …
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Kampala, Uganda | THE INDEPENDENT | Lenders in Uganda are staying away from approving loans as prospects of repayment look grimmer than ever, a government report says. According to the Ministry of Finance May performance of the economy report, the value of loans approved by banks in April fellow by 67.9 …
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Kampala, Uganda | THE INDEPENDENT | The management of police Savings and Credit Cooperation –SACCO has extended the ban on acquisition of loans. Several police officers said they had tried to get loans or withdraw their savings but in vain. They added that police management led by the SACCO Chairperson …
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Kampala, Uganda | THE INDEPENDENT | Countries and organizations in Europe under their umbrella Team Europe have announced plans to provide 125 Million Euros (about Shillings 518 billion) in loans to support small and medium Ugandan enterprises to recover from coronavirus impact. In a statement issued on Monday, Team …
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Kampala, Uganda | Khisa Isaac | Uganda Development Bank (UDB) is considering reducing interest rates by two percentage points to 10% on loans to be advanced to local companies involved in various productive activities as the coronavirus containment measures takes toll on the economy. This development comes in the wake of the …
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Kampala, Uganda | THE INDEPENDENT | The COVID-19 lockdown has affected the operations of village saving groups in Mbale district as members are failing to repay loans advanced to them. The banks give out loans to especially subscribed members who operate petty businesses and farming. The loans usually range from …
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Kampala, Uganda | THE INDEPENDENT | Government has revised its proposal to borrow money to mitigate the effects of coronavirus by up to 1.3 trillion shillings. On April 2, the government presented a motion to borrow up to 1.7 trillion shillings to cushion the economy from the effects of COVID-19. …
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