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HomeNewsAfricaUganda’s Centenary Group purchases Malawi Bank, eyes more foreign expansion

Uganda’s Centenary Group purchases Malawi Bank, eyes more foreign expansion

Centenary Group, the holding company of Centenary Bank, Uganda’s second largest bank, has made its first foreign acquisition of a financial entity by the purchase of MyBucks, a bank incorporated in Malawi. The group is eying more expansion to South Sudan and Democratic Republic of Congo. 

The group, together with the Catholic Archdiocese of Lilongwe, will acquire 100% stakes in MyBucks Banking Corporation of Malawi, whose proprietor MyBucks S.A. was placed into bankruptcy in December 2021.

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