Equity Group Holdings is set to acquire a controlling equity stake in Commercial Bank of Congo (BCDC) with the aim of merging the business with its existing subsidiary in DRC, Business Daily reports. The proposed deal will give new impetus to Equity's Pan-Africa expansion strategy coming just after similar transactions
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Barclays Bank of Uganda Limited is preparing to change to Absa Bank Uganda Limited. “As part of our preparation, we are taking a sequenced approach to our change plans. Some branches will start to reflect several elements of the new brand before others,” the bank said in a statement. It
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The Bank of Uganda (BoU) Governor, Prof. Emmanuel Tumusiime-Mutebile has revealed that the Central Bank has stepped up efforts to address weaknesses that led to the most recent commercial bank failures. “Although bank supervision and regulatory structures broadly follow international best practices, BoU has stepped up the strengthening of commercial
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Equity Bank Uganda will be showcasing feasible investment and banking opportunities for Diaspora customers back home at this year’s Uganda North America Convention being held at the Hyatt Regency in Chicago, from August 29 to September 1, 2019. A delegation led by the Bank’s Executive Director, Anthony Kituuka (Centre in
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Parliament has granted Igara County East MP, Micheal Mawanda, leave to introduce a private member’s bill that seeks to amend Article 161 of the Constitution to remove the Governor and Deputy Governor Bank of Uganda from serving as chairperson and deputy chairperson of the board of directors respectively. According to
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Aging businessman Chris Tushabe has accused several Bank of Uganda (BoU) officials of frustrating his efforts at having access to his bank accounts details following the closure of defunct Cooperative Bank. Appearing before the Committee of Commissions, Statutory Authorities and State Enterprises (COSASE) today, Tushabe accused t Justine Bagyenda (in
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Ecobank Transnational Incorporated (“ETI”) has announced that IFC and the funds managed by the IFC Asset Management Company (“AMC”) have completed the sale of their c.14.1 percent stake in ETI to Arise B.V. (“Arise”). Accordingly, Arise has become a shareholder of reference in ETI with a c.14.1 percent stake. J.
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The State Minister for Microfinance, Haruna Kasolo has accused of reportedly being part of the group that is defrauding civil servants with fake loans on their bank accounts. This was raised by Agago Woman MP, Franca Akello during yesterday’s plenary sitting. She was responding to David Bahati, State Minister for
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Crane Bank (in Receivership) intends to appeal against the whole of the decision given by Hon. Justice David Wangutusi on August 26, 2019, as per Notice of Appeal Application 320 of 2019 filed in the High Court today, a statement issued by the Bank of Uganda (BoU) says. The High
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Wiebe Draijer, Chairman of the Managing Board of Rabobank, a Dutch multinational banking and financial services company and global leader in food and agriculture financing and sustainability-oriented banking, was in Uganda last week for a two-day visit as part of a regional tour of East Africa. The visit reaffirms Rabobank’s
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