Half of Ugandan banks fail pandemic liquidity test

“More than half of Uganda’s commercial banks would have collapsed if the Central Bank had enforced a three-month customer loans repayments holiday at the onset of the COVID-19 pandemic, the sector regulator has revealed. A stress test conducted on Uganda’s 25 banks showed most would not have survived the cash crunch since loan interest income accounts for 60 percent of their revenue.”

via The East African