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Tag Archives: UDB

Private sector, CSOs hail gov’t for tax relief, recapitalizing of UDB

Kampala, Uganda | THE INDEPENDENT | The Private Sector Foundation and Civil Society Organisations have welcomed the budget saying it reflects Uganda’s current situation and looks at reviving vital sectors. On Thursday, the Minister for Finance Matia Kasaija passed 45 trillion shillings budget for the 2020/2012 financial year. Dr Elly …

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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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Expect no direct financial stimulus – Kasaija

Kampala, Uganda |  THE INDEPENDENT |  The Finance Minister Matia Kasaija has said that the government does not have a provision for any fiscal stimulus for businesses that have been affected by the impacts of the COVID-19 pandemic. Several economists and players within the private sector have been calling upon the …

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Gov’t to inject UGX 1 trillion in UDB to boost local production

Kampala, Uganda |  THE INDEPENDENT | President Yoweri Museveni has said that part of the 1.9 trillion shillings loan obtained from the International Monetary Fund (IMF) will be injected in the Uganda Development Bank (UDB), to enhance the country’s production capacity.  While commissioning the Lida Packaging products, a manufacturing company that …

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Gov’t has injected less than UGX 200b into UDB since 2015

Kampala, Uganda |  THE INDEPENDENT |  Uganda government has injected less than 200 billion Shillings as a capital contribution to the Uganda Development Bank (UDB) over the last five years, the institution’s published financials show. This is despite the fact that leaders – including President Yoweri Museveni – have been lyrical …

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UDB capitalization at Sh272bn – Museveni

Kampala, Uganda | THE INDEPENDENT | Uganda Development Bank (UDB) has now been capitalised to the tune of 272 billion shillings, with the money expected to help reduce the cost of money for local entrepreneurs. Speaking at the State of the Nation Address on Thursday, President Museveni said the “the …

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Gov’t to capitalize BoU, UDB

Kampala, Uganda | THE INDEPENDENT | Government has allocated 627 Billion Shillings to capitalize seven banks. The banks include Uganda Development Bank (UDB) with 103 billion, Housing Finance Bank 30 billion, Post Bank 4.7 billion, International Development Bank 2 billion, Trade Development Bank 2.5 billion and Africa Development Bank (ADB) …

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Reviving Katwe salt factory

UDB launches ambitious hunt for investor Kampala, Uganda | PATRICIA AKANKWATSA | A cool breeze and a pungent smell like rotten eggs is what welcome you to the shores of Lake Katwe. That is the hydrogen sulfide; a poisonous and corrosive gas that occurs naturally in the salt caves of …

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Parliamentary Budget Committee Recommends Capitalization of UDB

  Kampala, Uganda | THE INDEPENDENT | The Parliamentary Budget Committee has recommended for the allocation of money to capitalise Uganda Development Bank-UDB. UDB is a public enterprise wholly owned by the Government. It is a Development Finance Institution that is focused on accelerating socio-economic development through sustainable financial interventions in …

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