The collapse of Crane bank, the local financial institution that embraced downtown traders like no other bank over the last decade, represents an end of an era on many fronts.
In Uganda's conservative banking industry, Crane bank employed a rare business model. It expanded its branch network in areas many feared; signed up new customers along dusty roadside pavements in different spots in Kampala as its competitors stayed in their air-conditioned offices; loaned money to traders that other banks played dumb to; and spent funds on sectors such as the media while its peers took cover.
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