Shs12b Set for revival of cooperative banks
The Ministry of Trade has proposed a budget of Shs12 billion for the revival of cooperative banks, which will include funding for the establishment of a new Cooperative Bank. Originally established in 1964, the Cooperative Bank was closed in 1999 by the Bank of Uganda due to inadequate capitalization and insolvency. NTV spoke with Ivan Asiimwe, the General Secretary of the Uganda Cooperative Alliance, to discuss the journey towards the bank’s revival.