Finance: Djibouti’s Salaam African Bank acquires Ugandan Top Finance Bank

Djibouti’s Salaam African Bank (SAB) has acquired Uganda-based Top Finance Bank Limited, the Ugandan central bank, Bank of Uganda (BoU), has announced and approved the deal.

« This is to inform the general public that M/s Salaam African Bank (hereinafter SAB) headquartered in Djibouti has acquired Top Finance Bank Limited (hereinafter TFB). This transaction has been concluded after the approval of the Bank of Uganda  »in accordance with the provisions of the Financial Institutions Act (FIA) 2004 and its regulations », the bank said in a BoU statement published on its official website.