Uganda: Government Sold UCB At Shs 1,000!

Government of Uganda sold 80 percent shares of Uganda Commercial Bank (UCB) to Standard Investment Corporation Limited (Stanbic Bank) at only Shs 1,000.

According to the sale agreement, which Bank of Uganda (BOU) and government of Uganda had refused to make public, the Shs 1,000 was to be paid in cash.

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