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What next for Uganda’s undercapitalised banks? As of 31st December 2022, out of the 25 banks, 10 banks didn’t meet the thresholds on share capital while another 10 did not meet the thresholds on core capital. Seven (7) banks did not meet both. They have until the end of June 2023 to beat the deadline for the first phase of recapitalisation. They have 4 options⏤comply, downgrade their license, find a buyer or exit the market.
Dr. Tumubweinee Twinemanzi, PhD, the Bank of Uganda Executive Director is having hard conversations with undercapitalised banks.