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Tag Archives: loans

Police SACCO management extends ban on loan acquisition

Kampala, Uganda | THE INDEPENDENT | The management of police Savings and Credit Cooperation –SACCO has extended the ban on acquisition of loans. Several police officers said they had tried to get loans or withdraw their savings but in vain. They added that police management led by the SACCO Chairperson …

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Uganda Development Bank to cut lending rates

Kampala, Uganda | Khisa Isaac | Uganda Development Bank (UDB) is considering reducing interest rates by two percentage points to 10% on loans to be advanced to local companies involved in various productive activities as the coronavirus containment measures takes toll on the economy. This development comes in the wake of the …

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Village banks in Mbale struggling to recover loans

Kampala, Uganda | THE INDEPENDENT | The COVID-19 lockdown has affected the operations of village saving groups in Mbale district as members are failing to repay loans advanced to them. The banks give out loans to especially subscribed members who operate petty businesses and farming. The loans usually range from …

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Govt revises proposal to acquire loans for COVID-19

Kampala, Uganda | THE INDEPENDENT | Government has revised its proposal to borrow money to mitigate the effects of coronavirus by up to 1.3 trillion shillings. On April 2, the government presented a motion to borrow up to 1.7 trillion shillings to cushion the economy from the effects of COVID-19. …

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Traders ask for interest free loans for businesses

Kampala, Uganda | THE INDEPENDENT | Traders in Kampala have asked the government to lobby for free interest loans for their businesses that were affected by the outbreak of COVID-19. In March, President Museveni issued several measures to combat the spread of the virus. They included restrictions on the movement of …

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Kabarole fails to recover Sh900 Million Livelihood Funds

Kabarole, Uganda | THE INDEPENDENT | Kabarole district has failed to recover more than 900 million shillings meant for the Youth Livelihood Program from 2013-2018. YLP is a revolving fund initiated by the Government of Uganda in 2013 to address unemployment among the youths.  Funds are advanced to youth interest …

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