What next after the unclear takeover and Sale of Crane Bank,

Arthored by Public Opinions
Public Opinions International
Saturday 4th March  2017

We all know that bank of Uganda took over Crane bank in unclear circumstances and eventually sold it to DFCU Bank in more un-clear circumstances.

Dr.Sudhir Rupareilla started this bank from scratch to be the 4th biggest bank in Uganda employing thousands of Ugandans directly and indirectly but at the same time paying taxes and supporting community based development programs.

The slogan of Crane Bank was “Serving to Grow and Growing to serve” .Indeed Crane Bank served the people of Uganda and it kept on growing. This was an indigenous bank whose mission and core objective was to serve the people of Uganda as its contribution to transform Uganda to a middle income economy.

Since Crane bank was sold to DFCU Bank, it’s a bitter truth that so many people have lost jobs indirectly and directly especially those women, widows and youth who were selling Airtime, Tea, and Food to employees of crane bank. What of the Boda Boda Cyclists and the Crane bank service providers from the private sector. It’s a tragedy and no voice yet from Bank of Uganda to explain this. It’s a silent pain eating up the people who lost after take over and sale of Crane Bank. But its seems some powerful people are instead investing in malicing Sudhir Ruparellia in media instead of coming out to explain to Ugandans.

But the big question is : What is next after the sale of Crane Bank to DFCU Bank because there are so many un-answered questions yet no one is willing to answer.

Who lost after the takeover and sale of crane bank, who is suffering, who is celebrating, what are the effects to our economy, how do we ensure foreign investment confidence, how do we convince Ugandans to trust banks,etc.

While some people were interested in fighting Crane Bank Owner Sudhir Rupareillia and bring him down, they forgot that there action will largely affect thousands of Ugandans especially the bank account holders, the employees, the service providers, etc but above all they forgot that this will have far reaching negatives consequences on H.E the President Yoweri Kaguta Museveni whose dream is transforming Uganda to a middle class nation by 2022. The perpetrators didn’t know that fighting crane bank owners was fighting the government and the country’s economy while discouraging foreign investors from investing in Uganda.

We don’t want to indulge into management issues of Crane Bank but we focus on the implications of unclear take over and sale of crane bank as well as the negative sponsored publicity.

Thanks for reading, we welcome your comment on Tel:+256 701 992426


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