How Kagame knocked down Shudir’s Crane Bank From Coming Back to Life

In Business On
- Updated

As a human, every one would wonder how an extensive bank like crane bank would be closed up and sold imminently even when it had the ability to bail out itself through its associated networks.

Crane bank was sold on grounds that it had become defunct and was no longer able to sustain operations since it was operating in debts. However as we all remember Shudir had earlier extended a crane bank wing to Rwanda which highly caught up with business and was capable of bailing out the then failing Ugandan wing with billions of shillings that bank of Uganda demanded in order to have let them continue operational .

Booom what does kagame do when he realises the Rwandan Crane bank wing is about to dish billions of money to save the Ugandan wing??

When kagame realized of Crane Bank’s downfall(ugandan wing) , a bank that had been strong despite of the mismanagement but since the opening of the Rwandan branch it was able to ressurect.

Reports have it that Kagame then immediately put tough conditions on the Rwandan side that couldn’t enable The Owner (Shudir) to return his investment capital to bail himself out in Uganda as it was required by BOU, although this was not planned it worked to their advantage to fail the economy hence lowering its capacity to attract investment.

What was Kagame’s interest in all this?

The Senior general as I will refer to him is a smart gentleman, he wants and wanted his country to grow faster than its growing now, this was only to happen if Rwanda was seen as that best investment destination, Kagame further hired international advertising agencies to do the work but on ground the comparison to Uganda was to look real.

The Senior general wanted to have Kigali as the Brussels of East Africa, honestly speaking he succeeded with the help of his then Partner Kayihura in Kampala.

To be continued….

Download Our News App Here

You may also read!

Education Minister Janet Museveni has clarified on key issues regarding education

Update: Ministry of Education allows institutions to conduct classes

Janet Museveni, the Minister of Education and Sports has said the ministry has received Sector-specific Standard Operating Procedures (SOPs)

A boda boda rider self himself on fire at Masaka police station

Two policemen arrested over Masaka Boda Boda rider’s death

Two Uganda policemen have been arrested over the death of a man who set himself ablaze after his motorcycle

Health Minister Jane Ruth Aceng

Covid-19 Update: Nine coronavirus infections recorded on Friday

The Ministry of Health has on Friday July 3 confirmed 9 new cases from 3349 samples tested on Thursday


Leave a reply:

Your email address will not be published.

Mobile Sliding Menu