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When Uganda’s capital city floods, it is often framed as a natural disaster. The skies open up in fury, the drains overflow, and Kampala drowns under its own chaos. But the truth, stark and uncomfortable, is that our floods are man-made. They are not the wrath of the heavens; they are the consequence of greed, negligence, and broken governance. And at the centre of it all stand institutions we once believed were different, Uganda’s banks. As political will falters and environmental enforcement collapses under the weight of corruption and patronage, banks have become crucial. They are the last institutions still…
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Citi Uganda commemorated 25 years of operating in the country in an event attended by government, business, and industry leaders, including the Minister of State for General Duties, Honorable Henry Musasizi. Since opening its doors in Kampala in 1999, Citi has played a pivotal role in supporting the country’s economic development through transformative infrastructure project financing, business empowerment, and championing financial inclusion. “We know that our success is intertwined with the well-being and progress of Uganda,” remarked Ebru Pakcan, Middle East & Africa Cluster and Banking Head. “That’s why we have not only invested in the financial sector but also championed education, financial literacy,…
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Citi today announced a EUR 126 million loan to the Government of the Republic of Uganda to fund the design and build of the Lusalira to Sembabule road project in Uganda. Citi acted as the sole coordinating Mandated Lead Arranger and a lender. The financing was supported by African Trade and Investment Development Insurance (ATIDI) and the Development Bank of Southern Africa (DBSA). Banks in the syndicate include Absa Bank (Mauritius) Limited. The Lusalira to Sembabule road project is expected to link the national road network to the west of the country, playing a significant role in its socio-economic development, in…
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