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Tag Archives: loans

Key gov’t projects slowed by greed, lengthy procurement processes

Kampala, Uganda | THE INDEPENDENT | State agencies overseeing infrastructure development have put the blame on the errant government officials and the procurement regime for the delays in implementing public infrastructure projects. This comes after Finance Minister Matia Kasaija challenged Prime Minister Dr Ruhakana Rugunda to find ways of ensuring …

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Parliament tasks finance ministry to investigate platinum credit, bayport

Kampala, Uganda | THE INDEPENDENT | Parliament has tasked the Finance Ministry to investigate Platinum Credit Limited and Bayport for alleged exploitation of borrowers. Platinum Credit Limited is a micro finance company that offers emergency loans to borrowers among others. Bayport on the hand offers short term loans, medium-term loans, …

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BoU lists banks with lowest lending rates on loans

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has named commercial banks charged borrowers lowest rates between January and June 2020, effectively making them the cheapest lenders for debtors to run to. Absa bank, Baroda, Bank of India, Citibank, Ecobank, NC Bank, Stanbic Bank, Standard Chartered Bank, United Bank of …

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Police cyber team probes loan scam affecting over 6,700 people

  Kampala, Uganda | THE INDEPENDENT | Police forensic and cyber teams are probing circumstances under which more than 6,700 people including police officers and teachers lost their money in loan scams over the last one year. It is alleged that the police officers, teachers and other public servants were …

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MPs defer UGX 990 Bn loan for irrigation, enterprise development

Kampala, Uganda | THE INDEPENDENT | Parliament has delayed the approval of funding amounting to 990 billion Shillings to finance the construction of irrigation schemes, drainage channels and dams as part of a new climate-resilient irrigation project. The project is expected to benefit 63,200 smallholder farmers in Isingiro, Kanungu, Lamwo, Lira, …

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Tanzania to issue loans of about 200 mln USD for university students

Dar es salaam, Tanzania | XINHUA | Tanzania’s Higher Education Students’ Loans Board (HESLB) announced on Tuesday that it will issue 464 billion Tanzanian shillings (about 200 million U.S. dollars) for 145,000 students in universities and high learning institutions in the 2020-2021 academic year. HESLB, in a statement, informed students …

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French president calls EU deal on recovery fund “historic”

Paris, France | XINHUA | French President Emmanuel Macron on Tuesday hailed as “historic” a European Union (EU) deal on a post-pandemic recovery fund that would help build a “green and prosperous Europe” and further improve European solidarity. “A historic day for Europe! A massive recovery plan is adopted: a …

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