Kampala, Uganda | THE INDEPENDENT | Uganda Development Bank reports that its total outstanding loan portfolio to Ugandan enterprises rose by 24 per cent to 1.6 trillion Shillings in 2023. The total loan disbursements in the year increased by 21 per cent. Over the period, some 691 billion Shillings was approved for …
Read More »Demand for loans surges as lending rates reduce
Bank of Uganda projects the economy to grow at 6% in FY2023/24 up from 5.2% a year before Kampala, Uganda | ISAAC KHISA | Uganda’s consumers recorded a 7.8% increase in borrowings for the three months to October, while lenders’ approval rate for loans in value terms decreased since July 2023, …
Read More »Parliament permits loans for vital road upgrades
Kampala, Uganda | THE INDEPENDENT | The government received the green light to finance major road works under the Upgrading of National Roads Project in Uganda, through loan funding worth US$325 million (Shs1.23 trillion). This was during the plenary sitting chaired by Speaker, Anita Among, on Wednesday. The loan will be …
Read More »Unifi Uganda loans campaign excites lucky borrowers
Kampala, Uganda | THE INDEPENDENT | Unifi Uganda, a credit loans company, has unveiled a first instalment campaign dubbed “Excuse My Loan”, an innovative competition that saw 35 lucky customers being relieved of loans totaling up to Shs15m, it said Dec.05 in a statement. Launched in April – May and again …
Read More »UBA: No more fines for repaying a bank loan early
Kampala, Uganda | THE INDEPENDENT | Commercial bank customers can now opt to pay their outstanding loan balances earlier than scheduled, without fear of being charged for the early clearance. This follows the decision made by the Regulated Financial Institutions under the Uganda Bankers Association (UBA) last month and communicated …
Read More »Natural resource-backed loans a disaster for Africa-IMF
Africa is grappling with mounting debt crisis, with total external debt surpassing the US$1 trillion-mark last year Kampala, Uganda | RONALD MUSOKE | Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), has publicly endorsed the recent call by the African Development Bank Group, urging African governments to refrain …
Read More »MPs ask Government to write off YLP, UWEP loans over poor recovery
Kampala, Uganda | THE INDEPENDENT | Members of the Local Governments Public Accounts Committee have urged the government to consider writing off loans that were given out under the Youth Livelihood Programme and Uganda Women Entrepreneurship Programs. The government undertook to implement the two programs in 2014 and 2015 respectively …
Read More »BOU keeps high interest rate as World Bank, Govt talk over loans
Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has decided to maintain the Central Bank Rate (CBR) at a high 9.5 percent despite further drops in inflation rates in the month of September. The CBR is a tool that the central bank uses to direct the cost …
Read More »COMMENT: World Bank’s freezing loans to Uganda and issues human rights
COMMENT | DANNY BRADLOW | Many people may be tempted to view the World Bank’s recent announcement that it will freeze new loans to Uganda because of the country’s vicious anti-LGBTIQ+ law as a harbinger of the Bank taking a more progressive approach to human rights issues. While the announcement is …
Read More »MUSEVENI: West’s recklessness could affect terrorism fight
Kampala, Uganda | THE INDEPENDENT | President Yoweri Museveni has said the provocations by the World Bank and the “thought-less homo-sexual lobby”, should not provoke Uganda and Africa into being, automatically, anti-Western. In his latest missive on the World Bank decision to cut future loans because of Uganda’s stand on homosexuality, …
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