National Bank of Commerce (Uganda)

During the mid-1990s, the Gidoomals, a family of Asian descent and Kenyan citizenship acquired 86% shareholding in the bank.

In April 2008, the Gidoomal brothers sold their shares to Amos Nzeyi, Amama Mbabazi and Ruhakana Rugunda.

[3] In July 2011, Emirates Link, an Abu Dhabi investment company, acquired shareholding in NBCU.

The remaining 14% was owned by 320 other investors who included Ezra Suruma, Jim Muhwezi and retired Supreme Court Justice George Wilson Kanyeihamba.

[6] In October 2009, the investors from Abu Dhabi, invested US$10 million in the bank, without assuming ownership.

[10] In May 2012, the Ugandan Commercial Court directed the bank to appoint a new board of directors and to proceed with recapitalization, in order to stay solvent.

This is according to, a press statement, dated 28 September 2012, issued by Deputy Governor Bank of Uganda.