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OPINION: Does a foreign lender to a Ugandan business require a licence from the Bank of Uganda?

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LEFT-RIGHT: Phillip Karugaba, Head of ENSafrica Advocates, Uganda; Rachel Musoke, Partner, ENSafrica Advocates, Uganda and Sheila Pacuto, Senior Associate, ENSafrica Advocates, Uganda.

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By Phillip Karugaba, Rachel Musoke and Sheila Pacuto The Ugandan Court of Appeal, (in Diamond Trust Bank (Kenya)/Diamond Trust Bank (Uganda) vs Ham Enterprises Civil Appeal No, 262 of 2020), has set aside a decision that declared loans made by Diamond Trust Bank (Kenya) to a Ugandan business to be illegal on the grounds that the lender required and had not obtained a licence from the Bank of Ug

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