OPINION: Does a foreign lender to a Ugandan business require a licence from the Bank of Uganda?

By Phillip Karugaba, Rachel Musoke and Sheila Pacuto The Ugandan Court of Appeal, (in Diamond Trust Bank (Kenya)/Diamond Trust Bank (Uganda) vs Ham Enterprises Civil Appeal No, 262 of 2020), has set aside a decision that declared loans made by Diamond Trust Bank (Kenya) to a Ugandan business to be illegal on the grounds that the lender required and had not obtained a licence from the Bank of Ug