It is a fact that Uganda is a poor nation which cannot hold these giant foreign institutions legally accountable in Ugandan law Courts for fear of loss of donations and foreign support which makes this case an historical one.
Ham Enterprises DTB case judgment for tomorrow 12:00 pm at court of appeal. This is a case for all Ugandans regardless of their political differences as it stands to test the independence of the economy and judiciary from foreign exploitative forces that have kept Uganda in total absolute poverty.
These foreign banks have for years illegally exploited the poor Ugandan economy by
fraudulently sweeping out every coin leaving Ugandans in absolute poverty. This stands as a legal factual test on their illegal exploitative long-time structures and systems that have seen so many Ugandans unfairly lose their lifetime achievements.
DTB Kenya in partnership with DTB Uganda admitted to having operated in Uganda illegally
without a license contrally to the Financial Institutions Act and the DTB equally unlawfully debited 120billion Ugx from ham Enterprises accounts. JUDGEMENT was entered at high court in favor of Ham Enterprises, the Judge who determined the case got instantly transferred from Kampala and the bank appealed.
It is a fact that Uganda is a poor nation which cannot hold these giant foreign institutions legally accountable in Ugandan law Courts for fear of loss of donations and foreign support which makes this case an historical one.
This week’s judgement comes at a time when the banking industry in Uganda needs to undergo complete banking reforms so as to eliminate all hurdles that make it so difficult for Ugandans to access fair financial support to grow their businesses. In the year 2020 between March and September, Bank of Uganda revealed in its report that commercial banks recorded profits to a tune of 874 Billion. Unfortunately, these profits are not recapitalized by the banks but
rather repatriated out of the country.
Ugandans and the world at large are waiting to see if the Court of Appeal will take a strong stand against the illegalities committed by DTB as a benchmark for a genesis of banking reforms. The illegalities committed by DTB contravene the rules and regulations spelt out to monitor the operations of commercial banks in Uganda.
Is Uganda: financially, socially, legally and morally strong enough to make an independent
legal decision? For independence is not simply given but rather earned.
This case is the first of the kind in Ugandan law courts and a must follow for all Ugandans and Africans at large. Are we really independent as we claim or merely a tool of exploitation for survival and prosperity of foreign forces?
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