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In what promises to be a landmark gathering of Uganda’s foremost minds in economics, governance, and leadership, Dr. Louis A. Kasekende—Executive Director at MEFMI and former Deputy Governor of the…
Twenty-four (24) years, after Bank of Uganda, seized and sold the assets of the Co-operative Bank, the mystery of the ownership of the bank that was sold remains unresolved. This has led to another unresolved question of which Cooperative Bank was sold since it appears there were two Cooperative Banks- one, a cooperative society and the other a private limited liability company. This is even as shareholders of seven banks, including Co-operative Bank which were found by a Parliamentary inquiry, to have been closed illegally and irregularly by the Bank of Uganda wait for the perpetrators to be brought…
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The Criminal Investigation Department of police (CID) has written to Bank of Uganda to produce the current Director Financial Markets Development, Benedict Sekabira in court to answer charges of concealing title deeds under section 278 of the penal code. This comes after two years since the Parliament’s Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) chaired by Bugweri County MP Abdu Katuntu, recommended that Central Bank officials involved in the wrongful and illegal sale and closure of defunct banks be held personally liable. The banks included International Credit Bank, Greenland Bank, Cooperative Bank, Global Trust Bank, National Bank of…
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Absa Group Limited’s Barclays-branded subsidiaries in seven African countries – Botswana, Ghana, Kenya, Mauritius, Seychelles, Tanzania and Zambia – were renamed as ‘Absa’ today, February 12th 2019, completing the name change across the continent. Absa Group’s subsidiaries in Uganda and Mozambique were renamed in November. The renaming of the remaining subsidiaries today marks another substantial milestone in Absa’s separation from Barclays PLC, a three-year process scheduled for completion by mid-2020. “More than a name change, this is a milestone that brings us closer to realising our ambition as a leading African bank to support growth and development on the continent…
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Law No. 1 of 48 laws of power: Never outshine the master! Make your masters appear more brilliant than they are and you will attain the heights of power. When it comes to power, outshining the master is perhaps the worst mistake of all. The above, is an extract from a book, The 48 Laws of Power by American author Robert Greene. If you have not read this book- you should probably give it a try. Perhaps, if Dr. Louis Kasekende, the most immediate Bank of Uganda Emeritus Deputy Governor had read it, or maybe he has ever read it- but if he…
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