The Big Story

IRRESPONSIBLE LENDING AND INSIDER TRADING: Stanbic Bank senior executives accused of cheaply selling to themselves client’s property

by Muhereza Kyamutetera
The accused executives and directors of Myriad Investments (clockwise from top): Kenneth Kitungulu, Executive and Head, Global Markets; Maureen Kembabazi Katwebaze, Head,Retail & Digital Sales,Global Markets; Daisy Nitwe, Corporate - Treasury Sales Dealer, Emmanuel Rukeeba, Head Products and Analytics; Allan Muhinda - Interest Rates Dealer and Thaib Lubega, Treasury Manager, Uganda Development Bank.
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A client of Stanbic Bank Limited, Macdowel Limited, has asked police to investigate circumstances under which seven senior executives of Stanbic Bank Uganda, sold to themselves a mortgaged property on the cheap. Beatrice Odongo, a director of Macdowel, in a 23rd September 2020 letter to the Special Investigations Division of the Criminal Investigations Directorate, has asked police to investig

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About the Author

Muhereza Kyamutetera is the Executive Editor of CEO East Africa Magazine. I am a travel enthusiast and the Experiences & Destinations Marketing Manager at EDXTravel. Extremely Ugandaholic. Ask me about #1000Reasons2ExploreUganda and how to Take Your Place In The African Sun.