By Zacharia Kanyonyozi
Photos: YouTube Screenshots
The recent and sudden announcement by Standard Chartered Bank to exit the Ugandan market has thrown our diseconomy into clear and present danger.
Ugandans are looking at the country’s banking sector and seeing a number of heists, downsizings, sackings, closures, foreclosures and insolvencies which have little appeal to international lenders.
After over a century of operation in Uganda, Standard Chartered’s decision to close shop has struck the very heart of a dying economy by reducing the scope for savings and investments.
This means there’s a gaping hole in a vital socio-economic safety net and one of the means to achieve short-term goals; while investments through such a trusted bank like Standard Chartered have been railroaded by the macro-economic madness in this country. Thus the potential for higher long-term returns and long-term financial goals has been diminished.
But while many of us our crying, what if this is precisely what Dictator Museveni wants?
On November 18 this year, Opportunity Bank announced that it had signed an agreement with the U.S. International Development Finance Corporation, the U.S. government’s development finance agency that will enable an increase in lending refugee businesses and Ugandan host communities by up to $9 million for the next six years.
At the launch event, U.S. Ambassador to Uganda William W. Popp said, “Today, we are taking a big step toward many more refugees and Ugandan host communities fully participating in the formal economy by accessing life-changing financing opportunities. The U.S. government’s partnership with Opportunity Bank is proof of what we can accomplish when the public and private sectors combine efforts to empower communities.”
Opportunity Bank CEO, Owen Amanya said, “For close to 30 years now, Opportunity Bank has been transforming the lives of underserved people and communities in Uganda, affirming this unwavering commitment by delivering tailored financial services to refugee businesses and host communities. We appreciate this partnership with the U.S. International Development Finance Corporation, which is aligned with the Bank’s mission to reduce poverty levels and transform lives and communities. The partnership will unlock opportunities and see very many previously financially excluded refugees and Ugandans in the host communities given a chance to earn an income and live a life of dignity and purpose.”
Let us look at the devil in the details, shall we?
Opportunity Bank Uganda Limited has its Kamwokya branch based on 1259 Old Kira Road Kamwokya, Kampala. It is located slightly above the National Unity Platform (NUP) School of Leadership, which is on the same road, and the building that houses the Bank is rumoured to be owned Nyanzi Fred Ssentamu, elder brother of Robert Kyagulanyi, widely known as Bobi Wine, and the leader of NUP.
The Opportunity Bank is believed to be a funnel for foreign cash, used by NUP to attempt to oust Dictator Museveni. And with so many conduits for cash to challenge Dictator Museveni operating as banks, it is in Dictator Museveni’s interest to superintend their closure. It doesn’t matter if the economy collapses; this is an economic war akin to the one Idi Amin waged in the 70s. However, this time the war is being waged against democracy and not Asians.
It is not the first time that banks have been used by the US to cause change. According to Wikipedia, “The Business Plot, also called the Wall Street Putsch and the White House Putsch, was a political conspiracy in 1933, in the United States, to overthrow the government of President Franklin D. Roosevelt and install Smedley Butler as dictator. Butler, a retired Marine Corps major general, testified under oath that wealthy businessmen were plotting to create a fascist veterans’ organization with him as its leader and use it in a coup d’état to overthrow Roosevelt.”
We need to discover, dear reader, what role the Museveni Junta is actively playing in the destruction of our banking sector. In subsequent weeks, we should have a full expose for you.
