Tag: Microfinance
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Kuskop Initiative: Six-Month Interest-Free Loan Moratorium and RM600 Million MSME Financing Boost
Introduction: Targeted relief for flood-affected MSMEs In a move designed to cushion Malaysia’s small and medium enterprises from post-disaster financial strain, Entrepreneur Development and Cooperatives Minister Steven Sim Chee Keong announced a six-month, interest-free loan moratorium for flood-affected businesses. The policy, paired with a substantial RM600 million boost in financing for micro, small, and medium…
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Court Rejects Entrépo Finance’s Urgent Bid Over Government Payroll Deductions System
Overview: A setback for Entrépo Finance A court has rejected an urgent bid from microfinance lender Entrépo Finance. The company sought a court order compelling the minister of finance, Ericah Shafudah, to explain under oath how the government intends to implement a fully functional payroll deductions management system. The ruling marks a significant hurdle for…
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Court Rejects Urgent Bid by Entrépo Finance Over Payroll Deductions System
Overview of the Ruling A district court has rejected an urgent bid from microfinance lender Entrépo Finance seeking a court order compelling the minister of finance, Ericah Shafudah, to testify under oath about how the government plans to implement a fully functional payroll deductions management system. The decision narrows the scope of the dispute to…
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Uganda’s Family Businesses Face a Quiet Crisis as Founders Move On
The Hidden Crisis Plaguing Uganda’s Family Enterprises Uganda’s most common business structure—family-owned enterprises—has long been the backbone of local economies, offering livelihoods to thousands of households. Yet research from the Economic Policy Research Centre (EPRC) reveals a troubling pattern: fewer than 10% of these family-owned businesses survive beyond the tenure of their founders. This generational…
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Museveni Pledges Shs85 Billion Revolving Fund for Salon Operators
Uganda’s Salon Industry Gets a Major Financial Boost President Yoweri Kaguta Museveni has announced a significant policy initiative aimed at strengthening small businesses across Uganda. During a ceremonial address at the Kololo Ceremonial Grounds, the president pledged a revolving fund of Shs85 billion dedicated to salon operators. The move is part of a broader effort…
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CBN Issues Warning Over Unlicensed Microfinance Bank Zuldal
Overview of the CBN Warning The Central Bank of Nigeria (CBN) has publicly disowned Zuldal Microfinance Bank Limited, labeling it an unlicensed entity operating illegally within Nigeria’s financial system. In a statement disseminated on X, the acting Director of Corporate Communications, Hakama Sidi, reaffirmed that Zuldal Microfinance Bank Limited is not authorized to conduct banking…
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CBN Issues Alert: Unlicensed Zuldal Microfinance Bank Under Scrutiny
Summary of the CBN Warning The Central Bank of Nigeria (CBN) has issued a public warning about Zuldal Microfinance Bank Limited, labeling it an unlicensed entity operating illegally within the country. The notice, disseminated via the bank’s official channels, underscores the regulator’s commitment to protecting the public from fraudulent financial operators and ensuring that all…
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CBN Warns Against Unlicensed Microfinance Bank Zuldal
CBN Issues Public Warning About Unlicensed Microfinance Bank Zuldal The Central Bank of Nigeria (CBN) has disowned Zuldal Microfinance Bank Limited, labeling it an unlicensed entity operating illegally within the country. In a statement circulated publicly, the Acting Director of Corporate Communications, Hakama Sidi, underscored the regulator’s resolve to protect the financial system and Nigerian…
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Utkarsh Small Finance Bank shifts away from JLG loans as retail deposits rise in Q2 FY2024-25
Strategic shift: From JLG to secured lending Utkarsh Small Finance Bank (USFB) reported a mixed performance for the September quarter, underscoring a deliberate shift in its lending strategy. The bank’s overall gross loan portfolio (GLP) declined by 2.3% year-on-year to ₹18,655 crore, with a sequential dip of 3%. This contraction includes Inter-Bank Participation Certificates (IBPCs),…