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Uganda, a major recipient of America’s foreign aid, could find herself in a tough position after the 47th President of the United States of America, Donald Trump issued an executive order halting all foreign development assistance pending review in a manner that aligns, and is consistent with Trump’s new government priorities. “The United States foreign aid industry and bureaucracy are not aligned with American interests and in many cases antithetical to American values. They serve to destabilize world peace by promoting ideas in foreign countries that are directly inverse to harmonious and stable relations internal to and among countries,” the…
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Entrepreneurs have been advised to adopt value addition practices as a gateway to tap into the lucrative trade opportunities locally and across the region. The call was made during the climax of the four (4) day Agri SME Skills Development Program facilitated by PostBank Uganda in partnership with the Federation of Small and Medium Enterprises (FSME) at Uganda Industrial Research Institute (UIRI) in Nakawa, Kampala. Launched in 2022, the Agri SME Skills Development Program forms part of PostBank Uganda’s Corporate Social Investment (CSI) under its Financial Literacy pillar, aimed at empowering Ugandans so that they can participate in the social…
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Money lenders and some private sector players have warned of dire consequences to the economy over the new interest cap of 2.8 percent per month for money lenders instituted by the Uganda Microfinance Regulatory Authority (UMRA) and approved by the Ministry of Finance. Jonan Kandwanaho, the Chair of the Association of Money Lenders in Uganda (AMLU) said his team is considering court action, while other options are still being discussed since there were no prior consultations made to stakeholders. UMRA, Ministry of Finance and money lenders have been in a cat and mouse relationship over the last few years over…
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U.S. – Uganda bilateral relations took a nosedive at the end of October when U.S. President Joe Biden issued a statement that seeks to terminate Uganda’s membership under the Africa Growth and Opportunity Act (AGOA)with another three countries effective January 1, 2024. Biden wrote that he took the step after determining that the Central African Republic, Gabon, Niger, and Uganda did not meet the eligibility requirements of section 104 of the AGOA. In a specific reference to the Uganda government, Biden noted that East Africa’s third-largest economy had engaged in gross violations of internationally recognised human rights. President Museveni…
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A total of 500 Small and Medium Enterprises have been equipped with skills in agricultural value addition and financial literacy courtesy of PostBank Uganda and the Federation of Small and Medium Sized Enterprises – FMSE. In September this year, PostBank Uganda, a government financial institution that is committed to transforming lives and livelihoods committed Shs 80 million to FSME towards value addition and financial literacy trainings for SMEs. Under its Corporate Social Responsibility activity, the bank in partnership with the federation under the theme Yongela Ko Omutindo, seeks to positively affect small-sized businesses which will, in turn, improve the country’s…
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PostBank Uganda Limited, a financial institution that is committed to transforming lives and livelihoods, has on Tuesday announced its flagship CSR activity for the year 2022 that will be headlined under the Bank’s Financial Literacy and Skills Enhancement pillar. The CSR activity will be conducted in partnership with the Federation for Small and Medium Sized Enterprises (FSME) under the theme “Yongela Ko Omutindo.” It is aimed at equipping SMEs countrywide with value addition and financial literacy skills. “This year we decided to focus on our financial literacy and skills enhancement pillar, because of the many disruptions in the SME space….
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Financial experts have on Wednesday tipped Small and Medium Enterprises (SMEs) on entrepreneurship financing and investment post Covid-19 era. This was during the Prudential Knowledge Series, the first in 2022, on discussing financing and investment for small businesses at Imperial Royale Hotel. The Prudential Knowledge Series are Prudential Uganda’s thought leadership conversations aimed at bringing attention to key issues that influence and affect the well-being of Ugandans. Accordingly, so far, the Knowledge Series have held five editions looking at investing and sustaining small businesses, understanding agri-business, education in the new normal, and how to save for short & long term….
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