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Uganda: President Okayed Crane Bank Closure - Central Bank Governor
Monitor, 1 August 2017
The Bank of Uganda Governor, Mr Emmanuel Tumusiime-Mutebile, has revealed that President Museveni gave the "go ahead" to close Crane Bank whose management the central bank took… Read more »
Forensic Report into Uganda's Defunct Crane Bank is Leaked
A forensic report into the demise of Uganda's Crane Bank details a litany of problems, including billions wasted on dubious software and bad loans being written off. And the Central Bank governor has said in an interview that President Yoweri Museveni okayed the closure of the bank.
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Uganda: Deputy Speaker Blocks BOU Parliamentary Investigation
Independent (Kampala), 1 August 2017
The Deputy Speaker Jacob Oulanyah has halted a proposed parliament investigation of Bank of Uganda (BOU) in relation to circumstances leading to the closure of Crane Bank. He cited… Read more »
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Uganda: Crane Bank Wasted Billions in Dubious Software Deals
Observer, 2 August 2017
The forensic preliminary report by PricewaterhouseCoopers (PWC) into the mismanagement of Crane bank shows payments were made for software that was never supplied and sometimes… Read more »
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Uganda: Crane Bank Wrote Off Shs101b in Bad Loans, Says Report
Monitor, 1 August 2017
Crane Bank wrote off more than 180 loans and advances amounting to more than Shs101b, a preliminary report of a forensic investigation prepared by the audit firm… Read more »
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Uganda: Six Tycoons Probed Over Shs244b Crane Bank Loans
Monitor, 1 August 2017
Crane Bank suspiciously advanced more than Shs244b in separate loan amounts to companies owned by six tycoons, a preliminary forensic audit report conducted by… Read more »
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Uganda: 12 More Face Charges Over Crane Bank Mess - Report
Monitor, 31 July 2017
More than 12 individuals and entities will, alongside businessman Sudhir Ruparelia face a range of charges over the alleged mismanagement and fraud in the defunct Crane Bank, a… Read more »
InFocus
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A citizen is suing the Bank of Uganda for failing to properly supervise the business of Crane Bank Limited. The Central Bank licensed Crane in 1995, only to shut its operations and ... Read more »
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The Development Finance Company of Uganda Bank has terminated the services of at least 250 out of 700 employees it inherited from Crane Bank as it completes the take-over of the ... Read more »
