Lessons for Uganda from the failure of Crane Bank and what
should be done going forward
Last week’s central bank takeover of Uganda’s third largest
bank, Crane Bank, was another step in our nation’s march to the absolute mastery
of our economy by international capital. Crane follows a long list of locally
owned banks that have gone under or been swallowed by others over the last 20
years, beginning with the International Credit Bank, then Greenland Bank, the
Cooperative Bank, Uganda Commercial Bank and recently National Bank of
Commerce.