Opportunity Bank Uganda Limited (OBUL) on 25th September 2019 was awarded a Commercial Banking license by Bank of Uganda, becoming Uganda’s 26th Commercial Bank. This follows a lengthy vetting process after the bank applied for a license on January 28th, 2019. “Bank of Uganda hereby grants Opportunity Bank Limited approval for a Commercial Bank License (class 1); to transform from a Credit Institution to a Commercial Bank,” wrote Kenneth Egesa, the Acting Executive Director, Supervision at Bank of Uganda. As the 25th bank, OBUL, enters a top-heavy and tightly competitive banking industry, largely dominated by the top 5 commercial banks….
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