Ugandan governor emphasises banking system is sound
Tumusiime-Mutebile steps in to calm investors, dismissing negative reports following the acquisition of Crane Bank
The governor of the Bank of Uganda has dismissed negative reports on the nation's banking sector, deeming them "unfortunate" and "utter rubbish".
In a statement released by the bank, the governor responded to comments made in the local media, which claimed a number of banks were facing imminent closure.
"Uganda's banking sector is stable, sound and profitable," said Emmanuel Tumusiime-Mutebile. Last week, the central bank announced it had taken control of Crane Bank after it faced capital
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