By our reporter
Following the controversy over DFCU’s acquisition of Crane Bank, we bring you the ownership of DFCU bank.
Crane Bank was an indigenous financial institution which had grown to become number 3 in the Ugandan market.
It has since emerged that Bank of Uganda almost donated Crane Bank to DFCU in a deal which was kept away from the public and shareholders, but revelations have revealed that the sh1.3 trillion worth of assets Bank, was sold at sh200 billion.
So which DFCU shareholders benefited from crane bank.
Did you you know that DFCU (a financial institution in Uganda) is partly owned by the Commonwealth Development Corporation (CDC) a British government-owned company, together with other foreign firms like Rabo Development from the Netherlands and NorFinance from Norway who are shareholders in Arise B.V together with Norfund, a Norwegian government owned Private Equity firm and FMO, the Dutch Development Bank.
Among shareholders are staff members of Bank of Uganda under their retirement savings scheme.
Below is the list of shareholders:
1 Arise BV 58.71%
2 CDC Group of the United Kingdom 9.97%
3 National Social Security Fund (Uganda) 7.69%
4 Kimberlite Frontier Africa Naster Fund 6.15%
5 Two undisclosed Institutional Investors 3.22 %
6 SSB-Conrad N. Hilton Foundation 0.98%
7 Vanderbilt University 0.87%
8 Blakeney Management 0.63%
9 Bank of Uganda Staff Retirement Benefits Scheme 0.59%
10 Retail investors 11.19%