Uganda’s Central Bank gave Egypt’s Banque du Caire the green light to buy out Cairo International Bank in Kampala, Uganda, to expand its reach in Africa. Banque Du Caire – Egypt’s third largest state lender – owns a 60% share of Cairo International Bank, and it would acquire the remaining 40% of shares from the National Bank of Egypt and Banque Misr. Bank of Uganda also approved that Cairo International Bank’s capital increase to USD5mn, Banque du Caire’s chairman, Tarek Fayed, told Amwal Al Ghad. In March, the Central Bank of Egypt (CBE) cleared Banque du Caire’s plans for full takeover of Uganda-based Cairo International Bank (CIB). The step is part of the Egyptian bank’s plans to achieve wider presence in Africa and turn the bank into a platform to expand trade exchange, investments and exportation between Egypt and African countries, mainly in East Africa and the COMESA region, Fayed said.