Uganda revives Cooperative Bank after 25 years
After 25 years in limbo, the Uganda Cooperative Alliance (UCA) Ltd has announced the revival of the bank, which was closed in 1999, under the new name of National Cooperative Bank. UCA has launched the National Financial Cooperative Society Limited to serve as the foundation for this new bank. This initiative aims to enhance financial inclusion and revitalize Uganda’s cooperative movement. According to Frederick Ngobi Gume, the Minister of State for Cooperatives, the National Cooperative Bank will initially operate as a Tier IV financial institution and will gradually grow to the status of a full commercial bank.
