Request To Recapitalize Central Bank With Shs484b Not Welcomed


Government is finding a hard time to convince parliament to give Bank of Uganda a whooping Shs484b as recapitalization fund because the central bank has failed to account for Shs 478 billion it claims it have spent on Crane Bank Limited during the time it was under its control. In October 2016, the central took over management of Crane Bank after it claimed their commercial bank’s proprietor Dr. Sudhir Ruparelia had failed to manage the bank and needed help. In the process, the central allocated Shs478 billion as money it…

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