Uganda a key market for Standard Chartered

Apr 23, 2007

UGANDA is among the core markets for Standard Chartered Bank in Africa, the bank’s outgoing managing director for Uganda, David Cutting, has said

UGANDA is among the core markets for Standard Chartered Bank in Africa, the bank’s outgoing managing director for Uganda, David Cutting, has said, writes Ayiga Ondoga.

“Botswana is the most profitable country for Standard Chartered Bank in Africa,” Cutting said. “I’ve enjoyed my time in Uganda and working in the sector. I’ve appreciated the physical beauty of the country, enjoyed the hospitality of the people and my staff,” he said.

Cutting was bidding farewell to members of the Uganda Bankers Association during a luncheon at Emin Pasha Hotel in Kampala.

“The challenges I faced were incidences of fraud. The economy is small with a small customer base, leading to stiff competition,” he said.

Cutting said that in order to retain staff, they must be motivated because other banks lure them with higher pay.

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