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Business Space / Shops Along Namirembe Road in The Very City Centre. Hotel on sale in najjanankumbi near tarmac on an acre 860sqm warehouse to let. CAR-WASH business for sale at goodwill. Beautiful Salon in Kyaliwajjala Supermarket and shops anti theft door Shop at Ku nya trading for 400,000 double Am looking for space for mobile money business shop in kabalagala at 600k on first floor. Boutique on main road for sale Mini SuperMarket Available for sale urgently with 300,000 daily sales. Business room for rent in a beautiful location for just 500,000 Central Bank governor Patrick Njoroge. The governor said that regulator wants to give the economy a soft landing by bringing interest rates down after months of rising. The Bank of Uganda’s decision to force a sale of the Kenyan bank’s stake in the Kampala unit is a solution that may come in handy given the damage that the receivership has done to the Imperial Bank brand.“

In Uganda, they are trying to sell the 51 per cent shareholding of Imperial Bank Kenya to a particular investor and to resolve the bank’s problems that way,” said Dr Njoroge.“As far as the numbers or the ratios are concerned, they remained the same at the end of September as in June,” the governor said even as he insisted that there is no systemic threat to Kenyan banks. Ugandan authorities have put troubled Imperial Bank’s 51 per cent stake in the lender’s Kampala subsidiary on sale in a move that signals a possible direction Kenyan regulators might take in resolving the crisis that led to the bank’s closure two weeks ago.business for sale naga city philippines Central Bank of Kenya (CBK) governor Patrick Njoroge made the revelation even as he acknowledged that the regulator’s own supervision department officials are among the key players under investigation over the sudden fall of the mid-tier lender.business for sale iloilo

“In Uganda, they are trying to sell the 51 per cent shareholding of Imperial Bank Kenya to a particular investor and to resolve the bank’s problems that way,” said Dr Njoroge. The list of those under investigation for massive fraud that led to the bank’s collapse includes directors of the bank, its management, and external auditors. The full extent of the mid-tier lender’s troubles will be known by mid next week, Dr Njoroge said, adding that the forensic auditors had instructions to work within that deadline.business for sale lorne vic The decision by the Ugandan authorities to force a sale of Imperial Bank Kenya’s stake signals that Kenya could also consider having a substantial shareholding of the bank sold to other lenders to deal with the confidence crisis that the receivership has caused among depositors.business for sale seaton devon

Such a move should restore some degree of confidence among the savers and help stem the anticipated tide of massive withdrawals when the bank is reopened. In Kenya, Dr Njoroge said, the forensic auditors are also investigating whether loans may have been issued irregularly or financial numbers fudged. He confirmed that a US firm FTI Consulting had been appointed to investigate alleged irregularities and malpractices in the bank that was closed early last week.handyman services hampshire “What we have right now are allegations. jerry's handyman serviceNothing has been verified and we cannot go into specifics about something we are not sure of until the forensic audit is completed,” Dr Njoroge said when journalists demanded details of the “malpractices” at the bank. The Bank of Uganda’s decision to force a sale of the Kenyan bank’s stake in the Kampala unit is a solution that may come in handy given the damage that the receivership has done to the Imperial Bank brand.

Dr Njoroge said inviting a strategic investor into the bank is one of the options the CBK could use to resolve capitalisation difficulties should the audit reveal that it is a major issue. “We have to find out whether there any shortfalls in capitalisation and whether the bank can be recapitalised and reopened. Getting a strategic investor is a possible solution,” said Dr Njoroge. The governor also signalled possible fraud at the institution. Dr Njoroge said that whereas the preference of the CBK was to have Imperial back on its feet, liquidation remains on the cards if the institution’s challenges turn out to be impossible to deal with. US authorities used forced mergers as part of the response to the global financial crisis that brought down many financial institutions in the country and Europe. Some of the banks have since come out of bankruptcy and even demerged (for those that had been forced to merge) following the regulators’ actions.Skip to the navigationchannel.links.navigation.skip.label.

Skip to the content.Top 40 Under 40| Imperial Bank owners to plough proceeds from sale of Kampala unit into Kenyan firm Imperial Bank shareholders plan to use proceeds from the sale of its loss-making Ugandan unit to plough more capital into the Kenyan lender which was placed under receivership a fortnight ago, people familiar with the plan have told the Business Daily. This follows a decision by Uganda’s banking sector regulator to put up for sale the majority stake (58.6 per cent) held by Kenya’s Imperial Bank in the Kampala unit. The Bank of Uganda took over the management of Imperial Bank Uganda on October 13, 2015, the same day the Central Bank of Kenya closed the bank citing “unsafe and unsound conditions to transact business” at the mid-tier lender. BoU said it wants the Ugandan stake held by Kenyan shareholders offloaded to “a deep-pocketed solid financial institution that will be responsible for appointing a new board of directors who will take on the duty of controlling the affairs of the bank.”

“The Bank of Uganda will exit at that point. I cannot confirm which institution it will be,” BoU told the Business Daily in an email response. READ: Uganda puts Imperial Bank's stake in Kampala unit on sale Imperial Bank Uganda sank deeper into the red with a loss of Sh671.1 million as at December 2014 from Sh63.5 million a year earlier. The bank has been making losses since being set up in the land-locked economy in 2010. Last year, Imperial Bank owners sold 36,262 shares in its Uganda subsidiary, decreasing their stakes to 58.6 per cent from 63.5 per cent. Imperial Bank had six branches in Uganda and held Sh7.8 billion in customer deposits in the half year ended June 2015. It had a loan book of Sh5.2 billion. Latest from Daily Nation: Business Agency’s Sh208bn power plan to light up rural areas Art of mango picking, from the horse’s mouth Turning farm manure into black gold I run my farm on my mobile phone Vet on Call: Beware your livestock enterprise might soon be a beautiful nuisance