Ugandans at heart,
I wish an inquiry is done on all properties that Crane Bank took over, I bet more rot will be unearthed. Indigenous Ugandan investors, entrepreneurs, business persons need the government’s favour and protection. Uganda is for Ugandans not Indians. Museveni is a president of Ugandans not investors.
Look at Sembule, Greenland bank, and many others; leave politics out of this Uganda is better off with its indigenous brands than sophisticated investors. Even if Sudhir employed 10,000 people the impact can never be as an indigenous Ugandan entrepreneur’s trickle down.
However it should also be noted that the nature of investors we have in town all hail their oxygen support from statehouse. Look at the case of Shumuk and Katatumba?, look at Sembule, look at Kasole of Kampala parents, and the list is endless. If I can even be more precise Crane Bank may have closed like any other local bank ages ago, but you remember the issue of UPDF soldiers having accounts there? The former PS’ name Dr Mbonye came on table.
Mr Sudhir Ruparalia has compromised Uganda’s media to the bone marrow.There are several Ugandans in government; security, civil society, NEMA, Media who are making a dime out of shielding or giving him a blind eye. Kasole should investigate the takeover of Kampala Parents school by Sudhir.Truth be told Ugandans have been fooled left and right.
The Banyakigezi bank was donated to Sudhir, and apparently Governor Tumusiime Mutebiire was unaware? The late Kasaga Zimwe (RIP) almost lost a prime property to the same Indian but he was rescued by Mzee Mandela of city tyres.
Our dear Andrew Mwenda was brought to the attention of fraud at Crane Bank.Concerns were brought by good n loving hearty Ugandans who saw Mwenda as their saviour then. But Andrew opted for a friendship with a tycoon. Another form of betrayal. The Independent partnered with Crane Bank. The rest is history.I doubt if Mr. Ruparelia has any philanthropist plans at the end of the day.
Two months back, we saw the “Uganda Police” protect Sudhir to continue filling a wetland ( internationally recognised conservation area ) with soil so that he can expand his flower farm.Sudhir is a member of NRM.
There is banking behaviour which in real terms is trade in money. That is normal but the Banks need to be regulated not to protect only the banking sector (like Mutebire and Central bank do), but also to protect the citizens as they use the bank. It cannot be anything goes.This is where the government comes in. It must regulate the Banking sector to protect it as well as it customers who are citizens. Mind you it is the governments job to protect the citizens. In fact it is the prime job. Moreover it is also in the interest of both the banking sector and the government to protect the citizens against unfair treatment because when the citizens fear the banks, then the trade in money is gone and there is no banking sector to talk about. The individuals who take advantage of the weakness in government and in the banking sector to exploit the weak citizen and take his hard earned money are clearly criminals and should be dealt with by the justice system and government.Sudhir happens to be just one example! There are many who do these things and take people’s property.
The best liberation is the liberation of the mind without it all other forms of liberation are set back! there two sides to this and it is difficult to figure out a solution for both. On one hand you have the “old generation” who fear banks like the plague. As a result you find some one with acres and acres of land or even so many (unnecessarily many) head of cattle which he could use to get a loan from a Bank and do more development work. This is not good for development. Then on the other you find the new generation (young people) who know they can get quick loans from the banks. But they do not first ask about the dangers and the benefits and how to manage the whole thing including repaying the loans. Unfortunately some of the young people persuade their old folk to allow them to use their lands/property as collateral which eventually ends up being confiscated. In the middle of these two you have money lending sharks who take advantage of the situation. So I am trying to figure out what “liberation” measure we need to adopt to remedy this situation. It looks like it will get worse before it gets better!
If we all know that the Sudhir are sharks who will grab our properties given a chance, why do we continue to borrow money from them?