Tanzania’s Exim Bank acquires Imperial Bank Uganda

Tanzanian Exim Bank has made a foray into Uganda’s banking sector after acquiring the Ugandan operation of troubled Imperial Bank.

The deal was valued at 3.8 million dollars and made Exim Bank Tanzania’s first bank to venture into Uganda.

The Tanzanian entity promises to inject competition into Uganda’s banking sector and with a specific focus on agribusiness.

CCTV’s Michael Baleke has that report.