The fall of Crane Bank now calls for crucial regulatory adjustments

Bank of Uganda’s decision to take over the management of Crane Bank — the country’s fourth largest bank by total assets — was all too familiar.

Central banks in the region are having a torrid time maintaining financial sector stability. Over the past 20 months, there have been 15 regulatory seizures in eight countries — Kenya, Zimbabwe, DRC, Nigeria, Zambia, Mozambique, Tanzania and Uganda.