To guard against risks that may arise from pan-African banks, Bank of Uganda (BoU) has signed various Memoranda of Understanding (MoU) with supervisors of commercial banks with presence in the country to enable regular and proactive interaction and sharing of information on these institutions.
Africa-based banks are expanding across the continent and now dominate the banking sector in many countries. These pan-African banks are establishing cross-border networks and overtaking the European and US banks, which traditionally dominated banking on the continent.
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