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Tag Archives: loans

Uganda’s public debt rises to UGX 73 Trillion

Kampala, Uganda | THE INDEPENDENT | Uganda’s public debt has risen to 73.8 trillion shillings (about 20.8 billion US dollars), according to provisional figures at the Bank of Uganda up to the month of October 2021. By the end of June 2021, the Ministry of Finance, Planning, and Economic Development reported …

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Banks rush to schools, parents with loan offers as schools reopen

Kampala, Uganda | THE INDEPENDENT | Commercial banks, Microfinance institutions and smaller money lenders are swarming schools and other educational institutions in search of new customers for loans to clear tuition and procure educational materials, among others, as the education sector reopens. The competition for new customers by the lenders coincides …

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Demand for credit grows despite increase in interest rates

Kampala, Uganda | THE INDEPENDENT | Commercial banks approved a total of 2.8 trillion Shillings in loan amounts in the three months ending October 2021, which indicates growth from the 2.2 trillion Shillings approved in the quarter that ended July. Similarly, the value of loan applications rose to 4.9 trillion Shillings …

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Parish chief commits suicide over failure to repay loan

Lira, Uganda | THE INDEPEDNENT | Two people in Lira, Kole district have committed suicide over failure to service loans acquired. In Lira, Patrick Oming, the Amokoge Parish Chief in Wiodyek sub county decided to end his life after failing to pay back the money he obtained from Nen Anyim savings …

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UDB launches unique solutions for women, youth and SMEs

Kampala, Uganda | THE INDEPENDENT |  The Uganda Development Bank Ltd (UDBL), the country’s national Development Finance Institution, has today announced exclusive offers aimed at addressing the growth of the key sectors of youth, women and SMEs. In addition to credit offerings to these segments, UDB will introduce a Business Accelerator …

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UDB offers simpler credit terms for women entrepreneurs

Kampala, Uganda | THE INDEPENDENT | The Uganda Development Bank has developed a special financing program for women entrepreneurs, in response to concerns that most of the women cannot afford the terms and conditions generally set by the industry for capital. This is part of the bank’s measures aimed at rebuilding …

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Gov’t relaxes requirement to access emyooga cash in banks

Kampala, Uganda | THE INDEPENDENT | The government has relaxed conditions that require Emyooga Savings and Credit Cooperative Societies to seek recommendations from district commercial officers before they access money on their bank accounts. In 2020/21, the government released 30 Million Shillings to each of the 18 Emyooga Savings and Credit …

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‘Provide Shs100m incentive to private schools’

Kampala, Uganda | THE INDEPENDENT | A section of Members of Parliament are calling for a Shs100 million recovery package to assist schools and other institutions of learning as they plan to re-open. Legislators argue that the two year closure of these institutions due to the Covid-19 pandemic has crippled private institutions’ …

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UDB to finance 2 million women entrepreneurs with micro loans

UDB has signed a memorandum of understanding with the Uganda Women Entrepreneurs Association Ltd under which beneficiaries will get between 50 and 100 million shillings in loans Kampala, Uganda | THE INDEPENDENT | Uganda Development Bank has offered to help 2 million women in business access financing at more affordable cost …

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Stanbic Bank announces new loan offers at special interest rate

Kampala, Uganda | THE INDEPENDENT | As 2021 gets to the end, Stanbic Bank Uganda has unveiled what it terms as ‘exciting offers’ on unsecured personal loans effectively activating the festive mood among customers. In a Nov.01 media statement, Uganda’s largest bank by assets, said, the promotional offer runs until end …

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