Uganda’s undercapitalised banks in a last-minute scramble to beat June 30th 2023 deadline

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With only a few days left to the June 30th 2023 compliance deadline for banks that failed to raise UGX120 billion in both share capital and core capital by December 31st 2022, a number of the affected banks are in last-minute mad dashes to raise the capital needed or else face a raft of regulatory sanctions that could include closure.  According to a tabulation by CEO East Africa Magazine,