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Like this article? PLEASE +1 it! |  |
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SACCOs Tagged Articles
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Ugandan Government to Set up Laws for Regulating its Microfinance Sector
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| During the 2007 Citigroup Micro-entrepreneurship awards ceremony in Kampala on January 10, 2008, State Minister for Microfinance, Caleb Akandwanaho announced that a new law regulating the activities of microfinance institutions will take effect in June 2008.
The law is meant to bring an end to corruption in Uganda’s savings and co-operative organizations (SACCOs) following dozens of complaints from customers claiming to have been fleeced of their savings, and police investigations in September 2007 of four savings and co-operative organizations (SACCOs) suspected of fraud, including the suspension of The Support Uganda Savings and Cooperative Society, and arrests of SACCO heads. |
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9.3.1 The CRDB Bank: Support for Growth-oriented Women Entrepreneurs in Tanzania, 2005
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| The CRDB Bank, 90 per cent owned by DANIDA (the government still holds 10
per cent of the shares) provides both wholesale and retail lending services. Reportedly, it
has a 40 per cent share of the micro-finance market, with centralized lending provided
through their 24 branches. |
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Other SACCOs Related Articles
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Police in Uganda Investigate Front Page Micro Finance and Three Other Microfinance Firms
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| Ugandan Police are investigating four savings and co-operative credit organisations (SACCOs) suspected of fraud. They are alleged to be cheating their clients and making withdrawal of deposit money very difficult. The organisations are Front Page Micro Finance, Faster Micro Finance, Savings and Credit Cooperative Society Support Uganda Finance Limited and Stade Rugando Finance, all based in Kampala. According to the police up to 50 people have made complaints against the firms, accusing them of refusing to fulfill withdrawal requests completely and offering high-value loans against low-value collateral. |
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Ugandan Government to Set up Laws for Regulating its Microfinance Sector
| |
| During the 2007 Citigroup Micro-entrepreneurship awards ceremony in Kampala on January 10, 2008, State Minister for Microfinance, Caleb Akandwanaho announced that a new law regulating the activities of microfinance institutions will take effect in June 2008.
The law is meant to bring an end to corruption in Uganda’s savings and co-operative organizations (SACCOs) following dozens of complaints from customers claiming to have been fleeced of their savings, and police investigations in September 2007 of four savings and co-operative organizations (SACCOs) suspected of fraud, including the suspension of The Support Uganda Savings and Cooperative Society, and arrests of SACCO heads. |
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