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Uganda: Part 3 - Kampala Property

Thu, 23 Jul 2009 09:35

There are two things you notice when driving around Kampala. The first are the borda-bordas, motorcycle taxis which are definitely the quickest and easiest way to avoid a traffic jam. The second is the amount of banks. There are over 20 banks in Uganda to service a population of 30 million people. While these banks were not exposed to toxic sub-prime assets, the financial sector suffered a major shock when, like other open African economies, foreign investors pulled their money out during the height of the financial crisis.