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Crane Bank opens branch in Kireka

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Crane Bank Kireka branch Crane Bank, the leading locally grown bank has opened a branch in Kireka Township in Kira Municipality in Wakiso district. Managing Director A. R. Kalan told The Independent that Crane Bank's objective is to bring services closer to the customer. "Trading activities in Kireka Township are very high and it is risky for traders to carry money to the nearest Crane Bank branch at Kyambogo University," Kalan said. The bank has employed 15 people 14 of whom are indigenes of Kireka and will, like all Crane Bank branches, operate from 8.30 am to 5 pm during week days and from 9 am to 2 pm on Saturday. The bank also has a 24 hour banking ATM facility. Accounts available at the Kireka branch include the savings, fixed deposit, regular saving, Crane Access, Kids and the Current account.

In a bid to fulfill its corporate social responsibility, the bank has employed over 15 people with different body impairments to work at its different branches and 2 are at the Kireka branch. Kalan said the deaf and dumb are recruited to do data work while the blind are recruited for customer service. Crane Bank plans to open branches in Arua, Soroti, Kisoro, and Fort Portal and go regional to Rwanda, the Democratic Republic of Congo and southern Sudan

Mutebile rules out new govt borrowing

Tumusiime-MutebileBank of Uganda Governor Emmanuel Tumusiime-Mutebile said on Friday it was too early to talk about issuing a debut Eurobond to fund infrastructure projects due to global market conditions.Uganda, like some other African countries, has been mulling sovereign debt issues due to increased investor appetite in African frontier markets. Fellow African nations Ghana and Gabon issued Eurobonds in 2007 to good demand. Some emerging markets investors are looking again at the continent's domestic debt markets following an outflow of money late last year due to the world financial crisis. "It is too early yet to reopen talk of going out into the markets either for the Eurobond or any other government borrowing," Tumusiime-Mutebile told reporters. A Reuters report said Stephen Kaboyo, central bank director of financial markets, said in an interview last week that the Bank of Uganda was mulling issuing a ten-year treasury bond. Kaboyo said the central bank was "absolutely" looking to issue more 5- and 7-year bonds. The central bank's domestic debt strategy is a 40:60 ratio of treasury bills to bonds.

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