HAM vs DTB: Does a foreign lender to a Ugandan business require a licence? Expert lawyers point out the four errors made by court

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By Phillip Karugaba , Rachel Musoke , Rehema Nakirya Ssemyalo and Anita Kenyangi The recent controversial decision in Ham Enterprises v Diamond Trust Bank (U) and Diamond Trust Bank (K) Ltd has shaken up Uganda’s banking and finance sector, with many foreign lenders demanding clarity on the matter. Background This is a classic case of borrowi