Ugandan governor emphasises banking system is sound

Emmanuel Tumusiime-Mutebile

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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