Browsing: bank of Baroda

Bank of Baroda to 90% financing of Deluxe Motors' trucks and buses.

New and returning clients will be eligible for fee reductions associated with lending facilities in the current economic climate.

This one-of-a-kind finance collaboration will continue operations in Kenya for the next twelve months. The Small and Micro Enterprise sector, which is the country’s primary source of employment, stands to gain the most from it. It is part of an effort to lighten their overall financial burden.

Customers can obtain up to 90 per cent financing on the reduction of their balances over a maximum term of 60 months, thanks to the cooperation. In addition, consumers will be given a loan repayment grace period of up to ninety days following the date on which their vehicles are delivered, with any and all loan application fees being waived.…

Uganda’s Central Bank makes reforms to boost economy

Uganda’s Central Bank appointed seven banks to compete at its auctions of treasury bonds and bills, reforming the primary dealership system in a bid to bolster the country’s economy.

At each auction, the primary dealer banks will bid above $54,040.08 and then resell the bonds to other investors on the secondary market.

The primary dealer banks include Centenary, ABSA, bank of Baroda, Development Finance Company of Uganda (DFCU), Stanbic Bank, Housing Finance Bank and Standard Chartered Bank. Experts in Uganda say that the move will improve the attractiveness of the country’s treasuries to investors at home and overseas.

These investors include overseas buyers, non-primary dealer commercial banks, firms and ordinary Ugandans that are looking to enjoy interest payments from government and to use the treasuries as collateral.

“In order to enhance liquidity in the secondary market, effective October 01, 2020, competitive bidding in the primary market for Government securities shall …