British investor CDC Group exits investment in Ugandan bank, sells stake to Danish entity

UGANDA – Development Finance Company of Uganda Bank Limited, is a commercial bank has confirmed that Britain’s Commonwealth Development Corporation (CDC) Group sold 74,580,276 shares which make up 9.97 per cent of the total 748, 144,033 ordinary shares. The shareholding is being sold to Investment Fund for Development Countries (IFU) owned by the Danish Government. CDC made its first investment in DFCU in 1964 as a founding partner to the bank and has played an integral role in its long-term growth over the last six decades, through a number of…

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