Financial institutions have been urged by the Ministry of Finance, Planning, and Economic Development to develop financial solutions that align with environmental preservation, social support, and transparency. Ramathan Ggoobi, the Permanent Secretary and Secretary to the Treasury, explains that this is because consumers, producers, and financiers are placing a greater emphasis on sustainability, which is…
In a ceremony held in the administrative capital of South Africa, Pretoria on Wednesday, Cyril Ramaphosa, the head of the African National Congress (ANC), which is in power in South Africa, was sworn in as the country’s president for the next five years. “As the President of the Republic, I will work with everyone to reach…
The International Fund for Agricultural Development (IFAD) and Upesi Money Transfer, a regional payments provider, have teamed with FlexiPay, Stanbic Bank’s digital payment platform, to make it easier for FlexiPay users to send and receive money internationally. According to Josephine Nakato Kasacca, Lead Customer Experience & Operations at FlexiPay, the new collaboration is a reflection…
Mercantile Credit Bank Ltd.’s license has been revoked by the Bank of Uganda, which also instructed that the business wind down. Mercantile is a Tier II financial institution. Credit institutions are defined as “non-bank” financial organizations that take call and time deposits, which must be repaid either with notice or after a predetermined amount of…
The Microfinance Support Center officials were given instructions by the parliamentary Public Accounts Committee (PAC) to create an extensive list of Emyooga fund recipients for the fiscal year 2022–2023. Additionally, PAC directed that details about the loan amounts disbursed and recovered be included in the list. This order came after the Auditor General disclosed that…
Ugandans have been advised by Minister of Energy and Mineral Development Ruth Nankabirwa not to pay illicit fees for the provision of power in their areas. In Uganda, 10% of those living in rural regions and 57.2 % of those living in urban areas have access to electricity. According to Luzinda Livingstone, a local resident…
Effective July 1st, the Entebbe Municipal Council will close all weekly open-air markets, also referred to as “kabubbu.” Mayor Fabrice Rulinda made the broad decision public, highlighting the importance of assisting the major markets that pay the municipal council dues each month. Mayor Rulinda said that the council decided to close all weekly open-air markets…
