Nairobi, March 12 -- Some Equity Bank Uganda Ltd employees are under investigation for alleged fraud involving stock loan and agent float financing, Monitor reported.

Stock finance is a lending service that allows businesses to borrow working capital against their goods. Agent float loan allows bank and mobile money agents to access unsecured loans for their operations.

Monitor said the amount being investigated is approximately Ush65 billion ($16.7 million).

"We regret to inform you that we have recently identified a possible fraud on our stock loan and agent financing products," the bank said in a statement addressed to its customers and shareholders.

"People of interest, including a few of our staff and customers, are currently ass...