And more to worry,the opposition is promising the egypt way should museveni repeat what he is good at during elections.

Last year saw many Ugandan banks taking hits for various reasons including:

- Issues with Title Deeds [similar to Kenya]
- UGX depreciation [Huge thus losses where not mitigated]
- Losses/writeoffs per 'improved' BoU regulations [This is good for future earnings]
- Expansion [Uganda banks expanded rapidly in 2009 & continued in 2010 & the costs add up for training, setup, etc]
- Elections on 18 Feb 2011 means many banks slow down lending 12 months prior to elections. Same will happen in Kenya starting 4Q 2011 according to bankers I talk to.
- BoU cut down rates on T-Bills & T-Bonds thus reducing interest income for Banks.

IF, IF, IF
- elections go off without major hitches [Kenya, Ivory Coast, etc]...
- Oil [if Tullow is allowed to export]
- Peace in Southern Sudan

Then Uganda banks will be back in business in 2011...