UGX 12bn set for revival of cooperative banks
The Ministry of Trade has proposed a budget of 12 billion shillings for the revival of cooperatives, which will include funding for the establishment of the Cooperative Bank. The Cooperative Bank, established in 1964, was closed in 1999 by the Bank of Uganda due to inadequate capitalization and insolvency.NTV’s Ronah Nahabwe talked to Ivan Asiimwe, the General Secretary of the Uganda Cooperative Alliance on the journey for the bank’s revival.
