Banking

The Committee on Commission’s Statutory Authorities and State Enterprises (COSASE) has summoned auditing firm, Price Water Coopers (PwC) to appear before the Committee to explain how they arrived at the Shs239bn undercapitalisation figure Crane Bank reportedly faced. This was after Bank of Uganda (BoU) officials failed to explain the extent

Proparco, the French Development Finance Institution, has extended financing of USD 15m (Shs55.9bn) alongside USD 15m (Shs55.9bn) from FMO (the Dutch Development Bank) to dfcu, a strongly performing commercial bank with robust growth potential in Uganda. The facility is primarily earmarked for financing of small and medium-size businesses in line

Bank of Uganda officials have come under fire for taking over Crane Bank that needed Shs157bn capitalisation and then going ahead to spend Shs478bn on running it before it was finally sold to dfcu bank. Members of Parliament on the Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) are

Officials from the Bank of Uganda (BoU) yesterday found a difficult time explaining they hired external lawyers who are directors in different commercial banks as their legal advisors. The officials led by Governor Emmanuel Tumusiime Mutebile and Deputy Governor Louis Kasekende on Tuesday returned before the committee on Commissions, Statutory

The Parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) Chairperson, Abdu Katuntu has rejected President Yoweri Museveni’s idea of probing Bank of Uganda officials in confidentiality. COSASE is currently investigating BoU officials regarding the controversial closure of the seven defunct banks. Katuntu argues that if the probe is

Embattled former Executive Director Supervision at Bank of Uganda (BoU), Justine Bagyenda has shockingly revealed that she painfully left her juicy job at the Central Bank because of old age. She made the remarks Monday while appearing before the Committee of Commissions, Statutory Authorities and State Enterprises (COSASE) that is

In a shocking revelation, the Committee of Commissions, Statutory Authorities and State Enterprises (COSASE) has learnt that Bank of Uganda (BoU) sold Global Trust Bank (GTB) and National Bank of Commerce (NBC) on phone calls. The Committee also learnt that there were no minutes taken during the reported negotiation meetings,

This year, East African Development Bank  (EADB) clocks half a century excelling in being the leading development finance institution for member states. It marks the 50th year when the bank first opened its door for business. With primary focus on interventions in food security, infrastructure, education, health, natural resources, environment

Justice Irene Mulyagonja, the Inspector General of Government (IGG)  has observed that the on-going probe on Bank of Uganda ( BoU) is a result of poor governance practices. Mulyagonja says that failure to enforce good governance practices enabled corrupt officials at Central Bank to engage in corrupt tendencies. She stressed

The committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has learnt with shock that former Executive Director in charge of Supervision at Bank of Uganda, Justine Bagyenda reportedly took a sole decision to sell Global Trust Bank (GTB) to dfcu bank in 2014. COSASE is currently probing BoU officials