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Uganda: How Dfcu Beat Other Investors to Take-Over Crane Bank
Independent (Kampala), 6 February 2017
Dfcu's new take-over will help expand its footprint countrywide Read more »
The unlikely winner shocked the country when the Bank of Uganda Governor, Emmanuel Tumusiime-Mutebile, announced that they were transferring liabilities and assets of Crane Bank to Bank to the Development Finance Company of Uganda.
Former Crane Bank Headquarters on Kampala Road.
The Bank of Uganda has revealed that the collapsed firm became undercapitalised in a space of a year due to failure by borrowers to honour their debt obligations. Read more »
After a long period of struggling and bailouts, the troubled firm has been taken over by the Development Finance Company of Uganda Bank. Read more »
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