Kampala, Uganda | THE INDEPENDENT | Money lenders and microfinance institutions have been advised to use legal means to conduct their businesses instead of resorting to the use of force, especially in recovering money. This comes at a time when the small lenders are trying to get to terms with …
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Kampala, Uganda | THE INDEPENDENT | The Uganda Microfinance Support Centre – MSC, is facing intense scrutiny over the unlawful disbursement of 4.1 billion Shillings to different Savings and Credit Cooperative Organizations – SACCOs. Parliament’s Public Accountability Committee on Commissions, Statutory Authorities, and Enterprises – COSASE led by Joel Ssenyonyi …
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BoU data shows members’ deposits stood at Shs.884.96 billion, while shares and other equity amounted to Shs.865.61 billion and Shs.1.471 trillion Kampala, Uganda | ISAAC KHISA | Local insurers in Uganda, just like their counterparts across Africa, are leveraging on bancassurance, agents and their physical outlets to increase insurance sales and …
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Nairobi, Kenya | Xinhua | Kenya on Thursday launched a digital loan facility for groups and Savings and Credit Cooperative Societies (Saccos) as the country commemorated 60 years of internal self-rule. President William Ruto, who launched the digital scheme, said the product dubbed Hustler Group Loans, would give members economic freedom …
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Sembabule, Uganda | THEINDEPENDENT | The Sembabule district leadership has tasked the Resident District Commissioner Caleb Tukaikiriza to institute investigations into alleged embezzlement of Emyooga programme funds through ghost enterprise groups. Sembabule received over two billion shillings which was lent out to 73 enterprise groups in the four constituencies under the …
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Kampala, Uganda | THE INDEPENDENT | Speaker of Parliament Anita Among, has instructed the House Committee on Finance, scrutinizing the Microfinance Deposit-Taking Institutions (Amendment) Bill, 2022 to ensure inclusion of laws that protect members of Savings and Credit Cooperatives (SACCOs). The Speaker gave the directive during the plenary sitting on Thursday, …
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Fort Portal, Uganda | THE INDEPENDENT | 20 Emyooga SACCOs in Fort Portal city have been selected to benefit from an additional seed capital of 20 Million Shillings each from the government. Angalia Kasigwa Godwin, the Resident City Commissioner of Fort Portal says that the SACCOs were selected to benefit from …
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Civil servants who misused the money signed a MOU with the top officials at the PDM secretariat, and were supposed to have completed recovery by this week Kitgum, Uganda | THE INDEPENDENT | Kitgum district has recovered funds for 28 out of the 55 Saccos whose Parish Developement Model funds …
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Fort Portal, Uganda | THE INDEPENDENT | Fort Portal city authorities are stuck with over 250 million Shillings meant for disbursement to Parish Development Model (PDM) groups because of their failure to fulfill some of the requirements. Michael Karwani, the Fort Portal city commercial officer says that none of the 21 …
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Kampala, Uganda | THE INDEPENDENT | In a bid to curb the embezzlement of the Parish Development Model (PDM) funds, the government will start disbursing the revolving funds directly to Sacco group accounts. The parish Revolving fund is a capitalization grant from the government to SACCOs meant for lending to …
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