Uganda's central bank takes control of Crane Bank

Uganda’s central bank has taken over management of Crane Bank due to a financial crisis that has left the lender without adequate capital. PHOTO | MORGAN MBABAZI |

Uganda’s central bank has taken over management of Crane Bank due to a financial crisis that has left the lender without adequate capital.

The Bank of Uganda (BoU) governor Emmanuel Tumusiime Mutebile, at a Press briefing in Kampala on Thursday, said the bank will however remain open and operational.