Parliament Watch Profile picture
Feb 28 6 tweets 2 min read
Hon. Keefa Kiwanuka has presented the Report on the Micro Finance Deposit-Taking Institutions (Amendment) Bill 2022.

▶️Attached is the report parliamentwatch.ug/wp-content/upl…
The Committee observed that commercial banks have higher capital and equity requirements for licensing as to justify the use of the word "bank", as compared to MDIs.
#PlenaryUg
The Financial Institutions (Revision of Minimum Capital Requirements) Instrument, S.I No. 30 of 2022 set the minimum capital requirements for financial institutions at Shs 150bn and for the MDIs at Shs 1Obn.
#PlenaryUg
The Committee observed that the MDIs were emphatic on using the word bank because this will enable them to mobilize deposits. With the increase in deposits, the MDIs will not have to borrow from commercial banks, which has been the practice, ........
..... but rather mobilize the same deposit for onward lending. With the mobilization of deposits for onward lending, the MDIs will be able to Iend at lower interest rates. This will not only boost access to capital for low-income savers and earners but will encourage
....financial inclusion and further spur economic growth.
#PlenaryUg

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Parliament Watch

Parliament Watch Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @pwatchug

Mar 2
Yesterday, Hon.@hon_mpaka the Chairperson of the Select Committee investigating the state of affairs on @nssfug presented the committee report to the house, and here are the recommendations.

Thread
#PlenaryUg Image
✅ The @nssfug Management (Mr.@rpbyaru ,Patrick Ayota, Steven Mwanje & Barbra Teddy Arimi) that participated in the initiation of Ugx 1.8 Billion budget for donations step aside with immediate effect to allow investigations by IGG.
#PlenaryUg
✅ That Hon.@BettyAmongiMP resigns in public interest with immediate effect for her actions in directing that Ugx 6 Billion be sent to her Ministry.
#PlenaryUg
Read 13 tweets
Mar 1
In the next Financial year 2023 /24, National Roads have been allocated a budget of Ugx 595 billion for development, rehabilitation, and Iand acquisition by the Integrated Transport Infrastructure Services (ITIS) program.
#PlenaryUg Image
Based on the current contractual commitments, even if the budget for FY 2022/23 is fully released, it is projected that there will be a debt of approximately Ugx 300 billion by the end of this Financial year which will be carried forward to FY 2O23/24.
#PlenaryUg
This debt takes first priority on the budget & is included in the required resource for the next Financial year. This means no allocation has been made towards works to be executed in FY 2023/24 and neither can new rehabilitation and periodic maintenance projects be commenced.
Read 4 tweets
Mar 1
Hon.@GenWamala the Minister of @MoWT_Uganda is presenting a Statement on the Status of National Roads.
#PlenaryUg
▶️ Follow the link for the Statement parliamentwatch.ug/wp-content/upl… Image
Due to the long rainy season experienced in the country since August last year to date, the condition of the national roads continues to deteriorate and the kilometers of the paved and unpaved network in fair and poor condition is likely to increase significantly which in turn
.......will affect the support to the PDM program especially Pillar No. 2.
#PlenaryUg
Read 5 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

:(