The deposits of more than 700,000 people in Ghana are under threat amid a crisis in the country's financial sector. The Central Bank paints a grim picture of a financial sector in desperate need of help after it emerged microfinance institutions and the Rural and Community Banks owe the depositors
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Bank of Uganda (BoU) Governor Emmanuel Tumusiime-Mutebile has trashed and rejected the Inspector General of Government (IGG)’s directive to the Board of Directors of the Central Bank not to endorse recent staff appointments and transfers. Lady Justice Irene Mulyagonja Kakooza, the IGG had in letters dated February 23, 2018 and
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Kenyan commercial banks have increased or introduced new loan approval fees to capitalise on the increased appetite for loans in the wake of a cap on interest rates, the Standard reports. A new study by the Central Bank of Kenya (CBK) found that commercial banks have shifted lending to the
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Barclays Bank Uganda has confirmed leakage of Justine Bagyenda’s account details, saying that it regrets the unlawful act. This is after account details of former Bank of Uganda Executive Director in charge of Supervision leaked to the media, exposing her wealth and weaknesses in banks where she has accounts. In
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By Aloysious Kasoma dfcu bank has moved to consolidate its partnership with Non-Governmental Organizations (NGOs) as well as cashing in-on new ones. The second biggest commercial Bank in Uganda on Friday hosted a breakfast meeting with over 150 current and prospective NGOs at the Imperial Royale Hotel, with an aim
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Standard Chartered Bank Friday announced the official launch of its digital bank in Côte d’Ivoire. This marks the Bank’s first digital bank in Africa and the first-of-its-kind to open in Côte d’Ivoire. Mr. Bruno Nabagné KONE, Minister of Information technologies and communication of the Republic of Côte d'Ivoire, was
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Financial inclusion can provide a route for citizens to manage their finances better. However, only one in six citizens (17%) has a bank account, either alone or jointly with another person, a new report has revealed. The report adds that men (22%) are nearly twice as likely as women (12%)
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KCB Bank Uganda has sponsored local entrepreneurs for an international trip to Germany and Turkey in an effort to support growth of the SME sector in the country. The bank will be sending 30 of its business club members for a 10-day business trip that will see the SMEs network
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The future of banking and business/trade is no doubt digital. It is against this background that a number of banks have unveiled online banking products aimed at cutting costs and increasing convenience. To position itself better for the future, Ecobank Uganda is now targeting University students with its Mobile App.
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New shocking details have emerged about the controversial sale of Crane Bank to DFCU Bank two years ago. Local news reports indicate that shareholders of the Crane Bank (in receivership) have joined the battle and threatened to sue the Bank of Uganda and some individuals for selling off their financial
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