Banking

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.

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

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

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

Property mogul Sudhir Ruparelia has spoken out  on today’s Commercial Court ruling in which a case filed against him by  Bank of Uganda (BoU) and Crane Bank in receivership for allegedly fleecing his own bank (Crane Bank in receivership) of Shs397 billion was dismissed. This brings to an end a

The Bank of Uganda Governor, Prof  Emmanuel Tumusiime-Mutebile Wednesday failed to appear the Committee on Commissions Statutory Authorities and State Enterprises (COSASE) over fresh probe into the closure of Cooperative Bank. This left MPs on the Committee angered because lawmakers had earlier protested Mutebile’s decision to delegate the Executive Director

dfcu Ltd has posted Shs35.68bn net profit in the first six months of  2019 compared to Shs41.62bn registered in first six months of 2018. In unaudited results released today, the dfcu Ltd attributed the decline in net profit to lower recoveries in the first half of 2019 compared to the

Equity Bank Uganda has broken the silence on claims that it (the bank) humiliated its ailing customer who was brought to the Bank to withdraw his money but the financial institution dilly dallied on the life saving matter. It is reported that the family wanted to transfer the patient (John