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SACCOs Reject BoU’s Shs10bn Minimum Capital Requirement

Officials from Uganda Cooperative Alliance Limited appearing before Parliament’s Finance Committee Managers of the Savings and Credit Cooperative Societies (SACCOs) have rejected the proposed increment of the share capital requirement fronted by Bank of Uganda  for Microfinance Deposit Taking Institutions (MDIs) from 25,000 currency points (Shs500M) to 500,000 currency points (Shs10bn), warning

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