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Tag Archives: loans

Gov’t rejecting loans from World Bank

Kampala, Uganda | THE INDEPENDENT  | The government is rejecting loans from the World Bank in favour of those from China. This is according to the National Economy Committee of Parliament. According to Syda Bbumba, the committee chairperson, while meeting officials from the World Bank recently they said that they …

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Borrowers to default on loans– BoU survey

Kampala, Uganda | THE INDEPENDENT  | Commercial Banks expect more borrowers not to meet their loan obligations in the three months to the end of December, according to a survey by Bank of Uganda. BoU says banks had “noticed unfavourable economic conditions experienced during the last couple of months, which were …

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Multiple loans obatined by teachers worries UNATU

  Kampala, Uganda | THE INDEPENDENT | Uganda National Teachers Union-UNATU is concerned about multiple loans acquired by teachers. Several primary school teachers abandon classes in fear of being arrested after obtaining multiple loans from money lenders, which has disrupted classes. Zadock Kamusiime the UNATU National chairperson says that it …

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President Museveni defends Chinese loans

Entebbe, Uganda | THE INDEPENDENT |  President, Yoweri Museveni has praised the Chinese Government for extending loans to Uganda and Africa where other partners have been hesitant. He was fielding questions at a press conference he jointly addressed with visiting Zimbabwean President Emmerson Mnangagwa at State House Entebbe ahead of today’s …

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Multiple registration, borrowing frustrates growth of SACCOs in Sembabule

Sembabule, Uganda | THE INDEPENDENT |  Multiple registration and borrowing are frustrating the growth of Savings and Credit Cooperative Societies-SACCO’s in Sembabule district, according to the authorities.  SACCO’s are member-founded microfinance institutions established to promote the saving culture and address the financial needs of members in terms of extending credit. However, …

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Investors cautioned against mortgaging gov’t land for loans

Kampala, Uganda | THE INDEPENDENT | Government has directed that no investors should use government land leased to them as a security to acquire loans in any financial institution. In a letter to heads of three agencies – Uganda Investment Authority, Uganda Land Commission, and the Uganda Free Zones Authority – …

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Agriculture tops Uganda’s January loan portfolio

Kampala, Uganda | THE INDEPENDENT | Agriculture might be finally catching financiers’ eye, with money disbursed to farmers topping all other sectors in January, according to official figures. Statistics from the Finance and Economic Development Ministry show that agriculture received 28% (Sh 283bn) of all loans disbursed in January up …

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Shilling loans grow by 18.5 percent

Kampala, Uganda | THE INDEPENDENT | Credit in shillings to the private sector has grown significantly from about four percent to 18.5 percent in 2018, according to the Bank of Uganda. The executive director research and policy Adam Mugume says people are borrowing more shilling-denominated loans than dollar-denominated ones because of …

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