Bank of Uganda (BoU) has indicated that at least 74 supervised financial institutions now have access to the National Identification and Registration Authority (NIRA) database. The access, which is part of the plan to enhance the Know Your Customer (KYC) strategy as mitigation against fr
The Growth Opportunities and Productivity for Women Enterprises (GROW) Project has disbursed Shs18.9b in loans to 1,193 women entrepreneurs across Uganda, Minister of Gender, Labour and Social Development, Ms Betty Amongi, announced. "The 83 per cent loans going to women in small busines
Bank of Uganda (BoU) has said high staff turnover in some supervised financial institutions remained a key challenge in the year ended June 2024. The details, which are contained in the Bank of Uganda 2024 Annual Report, indicate that high staff turnover, which has remained unique to som
The Executive Director Uganda Microfinance Regulatory Authority (UMRA) says 86 percent of the borrowing in Uganda is happening in the Tier IV sector “A recent study shows that most Ugandans have ditched banks for Microfinance Deposit-taking Institutions (MDIs),” Ms Edith Namugga Tusu
VisionFund Uganda has opened an office in Iganga District, Eastern Uganda, making it the first in Busoga Sub-region and bringing the total number of branches to 24 and seven field offices.Previously, VisionFund Uganda customers from Busoga travelled to either Tororo, Mbale and Soroti distr
Uganda’s Newest ‘Kijambiya’ Threat: 59 Illegal Loan Apps to Avoid Like Bad ‘Kalo’In a city where everyone’s got a side hustle and a dream to escape the infamous ‘muzigo’ life, there’s a new preda
(Kampala) – In a country where the price of a rolex (the edible kind) now rivals that of a boda boda ride, the cost of living is pinching harder than a kameeza wife eyeing her husband’s thin wallet. And as Ugandans grapple with the ever ascending prices of k
Bank of Uganda (BoU) has placed EFC Uganda Limited, a microfinance deposit-taking institution, under liquidation, revoked its license, and ordered for the winding up of its affairs in the country.According to Michael Atingi-Ego, the deputy Bank of Uganda governor, the decision to close EFC
