A recent development has stirred a subtle wave of excitement within the camp of sports minister Peter Ogwang, who also serves as the Member of Parliament for Usuk county in the political arena of Usuk County in Katakwi district, eastern Uganda.
Insiders reveal that Minister Ogwang and his supporters are quietly elated by the news of the dismissal of Peter Ochole from his position at Stanbic Bank’s Soroti branch.
Reports indicate that Ochole, employed as a personal banker, has been implicated by the bank’s internal audit systems in suspected mismanagement of Credit Reference Bureau (CRB) fees. These fees are payments made by loan applicants for credit report checks and financial card applications.
Allegedly, Ochole, along with two other unnamed officials from the eastern region, has been involved in this misconduct. Additionally, an investigation is underway involving 20 other officials from various regions across Uganda regarding the CRB cash scandal within the bank.
However, returning to Ochole’s political situation, sources disclose that subsequent to the investigation, Ochole, who had been with Stanbic bank since 2010 and served as a personal banker since 2015, has been terminated.
It’s revealed that Ochole had been amassing resources to contest for the Usuk County Member of Parliament position in the 2026 elections, a move that had been causing concerns for Minister Ogwang’s camp.
According to colleagues at the Soroti branch, Ochole had begun strategizing his political bid in 2022 with the intention to challenge Ogwang’s incumbency.
It’s suggested that Ochole had allocated approximately Sh400 million towards his mobilization efforts, sourced from government compensation to his late grandfather’s estate, where he acts as an administrator.
Moreover, associates from Stanbic’s eastern region purportedly rallied around Ochole’s candidacy, contributing around UGX 200 million for his political campaign against Ogwang.
However, analysts speculate that Ochole’s termination from Stanbic Bank might detrimentally affect his prospects in the upcoming elections. Despite his appeal to reverse the decision, relying on support from his close ally, Badru Chemusto, the eastern region sales manager at Stanbic, and the backing of top management from the regional office, uncertainties loom over his political trajectory.
While Ochole pins hopes on a possible reversal of his termination, citing precedents from previous cases in 2020 where dismissed staff succeeded in their appeals, the outcome remains uncertain.
Efforts to obtain a comment from Ochole were unsuccessful at the time of press.
