Fort Portal, Uganda | THE INDEPENDENT | Fort Portal city authorities are stuck with over 250 million Shillings meant for disbursement to Parish Development Model (PDM) groups because of their failure to fulfill some of the requirements. Michael Karwani, the Fort Portal city commercial officer says that none of the 21 …
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Kampala, Uganda | THE INDEPENDENT | In a bid to curb the embezzlement of the Parish Development Model (PDM) funds, the government will start disbursing the revolving funds directly to Sacco group accounts. The parish Revolving fund is a capitalization grant from the government to SACCOs meant for lending to …
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Kitgum, Uganda | THE INDEPENDENT | Saccos created to benefit from the Parish Development Model-PDM funds in Kitgum are struggling to operate following the alleged misappropriation of funds. Last week, 15 staff of Kitgum district were arrested over alleged misappropriation of Parish Development Model funds. They were arrested on the orders …
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Kampala, Uganda | THE INDEPENDENT | The Minister of State for Finance, Planning and Economic Development (Planning) Amos Lugoloobi, has revealed that some parishes will in the Financial Year 2022/2023, receive more money than others under the Parish Development Model (PDM). The minister made the revelation while presenting a statement to the …
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Arua, Uganda | THE INDEPENDENT | Several Emyooga SACCOs in the West Nile region are struggling to recover the funds they disbursed. From 2019 to date, the government-funded 455 Emyooga SACCOs in West Nile through the Microfinance Support Center. Eighteen enterprises per constituency namely, taxi operators, fishermen, journalists, veterans, boda bodas, women …
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Bushenyi, Uganda | THE INDEPENDENT | Savings and Cooperative organizations have expressed concern over multiple regulations. The savings and cooperative Organizations currently are regulated by the registrar of Cooperatives, Uganda Microfinance Regulatory Authority, and Bank of Uganda. Speaking at the International Cooperative Day in Sheema Municipality on Saturday, John Njoki …
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Arua, Uganda | THE INDEPENDENT | Ministers from the West Nile region have ordered an audit into the Arua City Parish Development Model (PDM) funds over alleged irregularities. They accuse the city officials among others of irregularly forming PDM groups and disbursing money to unregistered SACCOs which is contrary to the …
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Kasese, Uganda | THE INDEPENDENT | The government will in the next financial year give an extra 20 million shillings to excelling Emyooga groups and Savings and Credit Cooperative Organizations-Saccos across the country. These additional funds are meant to boost the seed capital for the beneficiaries. Meeting district leaders in Kasese …
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Kampala, Uganda | THE INDEPENDENT | A special committee established to audit operations of casual workers in Kampala has resolved to pay city cleaners who continued to work after the expiry of their contracts. More than 3,000 cleaners from the five divisions worked under SACCOS contracted by Kampala Capital City Authority-KCCA …
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The lender recorded 11% growth in net profits to Shs269bn in 2021 Kampala, Uganda | ISAAC KHISA | Stanbic Uganda Holdings Ltd, a mother company for Stanbic Bank – one of the country’s oldest banks, which for nearly two decades served corporate clients, is now trying to remodel. The country’s …
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