Afriland First Bank closure

Bank of Uganda (BoU) has officially approved Afriland First bank Uganda Limited’s request for voluntary closure. The central bank and banking sector regulator in exercise of it’s powers under section 98 (1) of the Financial Institutions Act, 2004 (as amended), on Wednesday 25th May 2022, approved a request from Afriland First Bank Uganda Limited, to apply to the High Court for Voluntary Liquidation. A notice to the public written and signed off by Bank of Uganda’s Deputy Governor, Michael Atingi Ego states that: “Afriland First Bank Uganda Limited’s decision for Voluntary Liquidation was an outcome of a strategic business review…