Bank of India Uganda Limited is on the verge of quitting the Ugandan market, Business Focus has reliably established. An insider at the bank told this site on Tuesday, Feb.20 that the entire banking sector in India is undergoing restructuring. Consequently, Bank of India, a state-owned bank is consolidating its
Read MoreProperty mogul Sudhir Ruparelia is dancing legal tango with Dfcu Bank, the financial institution that took over management of Crane Bank in January 2017. In a series of separate cases, the businessman through his companies has sued the bank for illegal possession/ trespass on his properties and breach of contract.
Read More“If the most basic African cultural symbol of peace can turn out to be so hostile, then all our values have gone down the drain,” said Mary (not her real name). Mary’s neighbours described her as a self-confident and cheerful woman, but that is not what I saw when I
Read MoreThe value of Kenya’s fish exports dropped steeply following 2015’s closure of Imperial Bank and the subsequent shutdown of a major exporter that transacted its business through the troubled bank, Business Daily reports. Latest industry data shows that the value of fish exports dropped by Sh1 billion last year after
Read MoreOperation ‘clean’ banking sector has left Justine Bagyenda, the former Executive Director-Supervision at Bank of Uganda (BoU) more troubled. It seems government doesn’t want to see her play any role in Uganda’s banking sector going forward. As she was coming to terms how her 36-year stint at BoU unceremoniously came
Read MoreBY JOSHUA OIGARA Justifiably, 2017 was a year that can be summarised in three words: uncertain, changing and challenging. Looking at the East African region in the past 12 months, economic conditions deteriorated largely in Kenya and South Sudan, with the rest of the countries closing the year with a
Read MoreBy Aloysious Kasoma Ugandan businessmen and women have been told to explore alternative sources of funding beyond that is provided by banks. Speaking during a press briefing held Thursday at Hotel Africana to announce the forthcoming Annual Directors and Company Secretaries Conference, Keith Kalyegira, the CEO at the Capital Markets
Read MoreOn January 31, 2018 at Uganda Bankers’ Association (UBA) Informal Dinner held in Kampala, Prof. Emmanuel Tumusiime-Mutebile, the Governor of Bank of Uganda said Ugandans will soon enjoy the advantages of Islamic Banking. “The Islamic Banking Regulations, drafted by the BoU, have been approved by the Ministry of Finance Planning
Read MoreThe Bank of Uganda (BoU) has spoken out on reports that Bank of India Uganda Limited will close business in Uganda come next month. In a statement dated February 20, 2018 obtained by Business Focus, Prof. Emmanuel Tumusiime-Mutebile, the Governor BoU said Bank of India Uganda is ‘safe and sound’.
Read MoreKenyan banks are not deriving value in their regional operations with subsidiaries in volatile South Sudan unlikely to stay viable due to conflict and currency woes, Investment bank Renaissance Capital says. KCB, Equity Bank, Stanbic and Co-operative Bank have seen their subsidiaries in the troubled country fall on hard times
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