Tag Archives: banks

Borrowers took more loans in 2021 compared to a year before Kampala, Uganda | THE INDEPENDENT | Uganda’s largest commercial banks reported a sharp growth in earnings in 2021, pointing to the recovery of the economy following its partial reopening. However, some are worried about risks arising from inflation and …

Kampala, Uganda | THE INDEPENDENT | Investors in the Oil and Gas related business are crying foul over the attitude of Uganda commercial banks towards them when they approach them to finance their projects. The local investors, who are mainly Tier 2 and 3 contractors in the industry, say most …

Kampala, Uganda | THE INDEPENDENT | Commercial banks and microfinance institutions are yet to to officially hear about the 200 billion shillings for lending out money meant to rescue Ugandan small enterprises that were affected by the Covid-19 pandemic which was commissioned early last week. A check at two government-owned financial …

  Kampala, Uganda | THE INDEPENDENT | Seven people have been arrested for allegedly defrauding over Sh 5 billion through the online banking system in Kampala. The suspects were identified as Fred Sitakyange, Ephraim Bagambe, Allan Juuko, Bairon Ndyamuhaki, Peter Katumba, Erasmus Mutambi and Ronald Bashijja. They were picked up in …

Kampala, Uganda | THE INDEPENDENT | Civil society actors have challenged the government to take with serious concern, decisions by some international banks not to finance the East African Crude Oil Pipeline-EACOP. At least six international banks have backtracked on their financing plans for a USD 3.5 billion project, which will include …

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 …

The real impact of COVID-19 pandemic on banks will be seen in the second or third quarter of next year Kampala, Uganda | ISAAC KHISA | Ugandan commercial banks may believe that they are headed for recovery amid the novel coronavirus pandemic but the headwinds are still big, said Tumubweine …

Kampala, Uganda |  THE INDEPENDENT |   The banking sector is advising investors and other private sector borrowers to re-think their investments and investment plans because the attractiveness of investments to credit has been highly affected by the COVID-19 pandemic.       The pandemic scared lending institutions away from the private …

Kampala, Uganda |  THE INDEPENDENT |   The cyber detectives at Criminal Investigations Directorate – CID have arrested three more people in connection to the ongoing investigations into the hacking of Pegasus technologies and causing loss of billions of shilling to two telecommunication giants and two Banks. Hackers early this month …

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 …