Local Banks Struggle in Economy


It’s been over a year since the management of the Central bank took over and later sold Uganda’s biggest indigenous bank, Crane Bank to DFCU. Premised on poor corporate governance and internal fraud, the journey for Uganda’s biggest local bank ended with huge jostling for power and control between its biggest shareholder Sudhir Ruparelia, the Central bank and its eventual owner, DFCU. With an auditor general report expected out on the investigation into the jostling, our reporter Raymond Mujuni looks into the future of local banks in Uganda’s economy.