Since Equity Bank Uganda discovered a UGX65 billion (approximately USD 18 million) digital fraud, the bank has been in the eye of the storm, causing a whirlwind of losses, staff exits, and reputation damage.
Not only did it slide from profit to loss—from a profit of UGX45.8 billion in 2022 to a loss of UGX18 billion in 2023—but the fraud, coupled with a growing non-performing loans book tha
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