By Aloysious Kasoma dfcu Bank, in partnership with NTV Uganda and Price Waterhouse Coopers (PwC) have awarded the winners of the second edition of the nationwide Savings and Investment campaign dubbed ‘Battle for Cash’. Aimed at building a savings and investments culture in Uganda, the ‘Battle for Cash’ challenge in
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Former directors and shareholders of the defunct Global Trust Bank are seeking 315.7 billion shillings in compensation for the illegal closure of the Bank. They are demanding full compensation equal to the direct cash equity investments of US Dollars 35.3 million with interest at the rate of 10 per cent
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A number of Members of Parliament (MPs) on the Committee of Commissions, Statutory Authority and State Enterprises (COSASE) have disagreed with Committee Chairperson, Abdu Katuntu over the wealth of Bank of Uganda Deputy Governor Dr. Louis Kasekende (in featured photo) and former Executive Director in charge of Supervision Justine Bagyenda.
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Bank of Uganda (BoU) woes continues to deepen. The latest is that owners of Global Trust Bank (GTB) are demanding for over Shs316.5bn the Central Bank over what they call malicious and illegal closure of their bank. The plea was made by the five member team of former owners of
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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
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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
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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
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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
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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
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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
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