Tag Archives: Banking

THE LAST WORD: By Andrew M. Mwenda Lesson for Central Bank from the experience of the takeover of Crane Bank This week, the government injected Shs 200 billion into Crane Bank to bolster its liquidity position. This is only 40% of the Shs 500 billion needed to bring the bank …

New York, United States | AFP | New York’s state bank regulator fined the giant Agricultural Bank of China $215 million on Friday for violating anti-money laundering laws and obscuring suspicious transactions involving Russia, China, Afghanistan and other countries. Citing a deliberate failure to scrutinize dubious money transfers, the Department …

VIDEO: Helping customers realize life ambitions by looking after their money and wealth is key to restoring trust and confidence in Uganda’s banking industry. According to Elliot Mwebya the Executive Director Governors office, Ugandan banks have a big task to build trust and confidence with the Ugandan public. Share on: WhatsApp

ANALYSIS: Why President Yoweri Museveni’s behind- the-scenes-maneuvers to save Sudhir’s bank hit a snag  On Oct.10, President Yoweri Museveni directed the Prime Minister Dr. Ruhakana Rugunda to find an immediate solution to Crane Bank’s problems with the Bank of Uganda (BoU). Apparently, this was expected to mark an end a …

New York, United States | AFP |  Telecom giant AT&T has struck a deal to buy entertainment company Time Warner for more than $80 billion, to add in-house content to its distribution services, a banking source familiar with the negotiations said Saturday. An official announcement is expected before Monday’s trading …

The Bank of Uganda has with effect from today taken over management of Crane Bank Limited. According to a statement, the action has been taken upon the determination by the Bank of Uganda that Crane Bank Limited is significantly under-capitalised. BOU has appointed a statutory manager, Edward Katimbo Mugwanya,  to …

Members of the Parliamentary Committee on the National Economy want the banking industry to do something about the sky-high lending rates. The MPs made the appeal at a meeting with the Uganda Bankers Association in Kampala on Oct.03. The MPs organised the meeting to understand why interest rates in Uganda …

ANALYSIS: By Dr. Geoffrey A Onegi-Obel The way forward on the Uganda interest rate and middle income economy policy conundrum –  The first point to note is that the Interest Rate is the key price in any economy. As a Pricing Signal, it therefore requires careful management by the Monetary and …

Dakar, Senegal | AFP | When farmer Isaac Tondo fell on lean times in Liberia’s long rainy season, his brother in the capital sent 8,000 Liberian dollars (US$87) to his Lonestar mobile money account, ensuring his children’s school fees would still be paid. Across Africa more and more people — …

There were ripples in the financial services sector recently when reports emerged that Crane Bank is in negotiations with a buyer. This is the second biggest indigenous bank and the country’s fourth largest bank by assets. ‘It’s owner and founder, Sudhir Ruparelia, is arguably the region’s richest man. Why would …