Category: Treasurys
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Treasury’s bank referral scheme falls flat, securing loans for only 1 in 20 small businesses
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The Treasury’s bank referral scheme, which aims to increase access to finance for small businesses, has come under intense scrutiny after a recent audit revealed it secured loans for just one in twenty referred businesses. Under the scheme, nine major banks are required to refer small businesses that refuse loans…
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Why banks must seek Treasury’s nod before raising interest rates
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The Supreme Court has ruled that banks and financial institutions must seek the approval of the National Treasury before increasing interest rates on loans and facilities provided to customers. A five-judge bench of the Supreme Court headed by Chief Justice Martha Kom also held that Sections 44 and 52 of…
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JSS interns, suppliers and MPs major losers in Treasury’s spending cuts
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The government has postponed plans to convert the employment terms of 46,000 junior high school (JSS) trainees to permanent, pensionable terms, as the Treasury rationalized the budget after a parliamentary committee dropped some controversial clauses in the finance bill. Part of the standby plan If the National Assembly does not…