Kampala, Uganda | THE INDEPENDENT | Parliament’s Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has directed the Auditor General to carry out an audit into the sh478 billion injected into Crane Bank Limited by the Central Bank. The money was injected into the defunct Bank by the Central Bank …
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Kampala, Uganda | THE INDEPENDENT | Bank of Uganda officials have failed to justify the absence of an evaluation report of the assets and liabilities of Crane Bank Limited before its sale to DFCU. The irregularity was queried by the Auditor General in his 2017 forensic audit report. According to the …
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Kampala, Uganda | THE INDEPENDENT | The Committee on Commissions Statutory Authorities and State Enterprises (COSASE) has summoned auditors of Price Water Coopers (PWC) to explain how they came up with 239 billion shillings under capitalization of Crane Bank Limited. Price Water Coopers auditors were hired by Bank of Uganda to …
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Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda says that it is ready to defend the termination of the contracts of former employees of Crane Bank. Last month, 400 former employees of Crane Bank through their lawyer Isaac Ssemakadde wrote a statutory notice to Bank of Uganda demanding 120 …
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Kampala, Uganda | THE INDEPENDENT | The top stories in this week’s THE Independent. COVER STORY Why BoU sells banks cheaply: Auditor General spills secrets of Coop Bank, Greenland Bank. NEWS ANALYSIS: Refinery deal excites: Agreement seen as a key step towards the construction of $4bn facility THE LAST …
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DFCU DEAL: Taxpayer stands to lose Shs300bn Kampala, Uganda | HAGGAI MATSIKO | When Juma Kisaame; the Managing Director of DFCU Bank, looks at its latest financial results, he might have reason to smile and to worry. The bank’s latest financial results have excited shareholders but are also …
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Kampala, Uganda | THE INDEPENDENT | The top stories in this week’s THE Independent. COVER STORY DFCU profits expose BoU: Taxpayer stands to lose Shs300bn THE LAST WORD Uganda’s new villain: Why the country and the President is fighting the wrong enemy on electricity tariff BANKING Uganda’s banks brace for …
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Documents leak in Bagyenda, Mutebile fight Kampala, Uganda |HAGGAI MATSIKO | An unprecedented revolt which happened recently at Bank of Uganda against the Governor Tumusiime Mutebile, has led to a spilling of the central bank’s darkest secrets and could potentially damage its reputation and hurt the economy. At its centre …
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Kampala, Uganda | THE INDEPENDENT | The top stories in this week’s The Independent. COVER STORY Exposed: Dirty secrets of 200bn Crane Bank sale; Documents leak in Bagyenda, Mutebile fight. THE LAST WORD Lesson from Jinja East by-election: Why Uganda’s opposition should take voter turnout seriously if they ever …
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THIS WEEK: Police open fresh investigation into former Crane Bank staff Kampala, Uganda | THE INDEPENDENT | The Police have opened fresh investigations into fraud at the defunct Crane Bank and summoned two of the bank’s former Information Technology (IT) staff. Zaki Syed, a senior IT manager and Samuel Mutunga, another …
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The Independent Uganda: You get the Truth we Pay the Price