President Yoweri Museveni declared plans to present new regulation pointed toward managing moneylenders in Uganda, refering to worries over manipulative practices.
President Yoweri Museveni declared plans to present new regulation pointed toward managing moneylenders in Uganda, refering to worries over manipulative practices. Tenth Oct. 2024 The president offered this expression during the Southern and Eastern Africa Boss Judges' Gathering (SEACJF) Meeting and Yearly Regular gathering held at Speke Resort Munyonyo, Kampala. "Moneylenders are turning into an issue. They go to residents, cheat them, and charge them extreme loan costs, yet the expansion rate in Uganda is exceptionally low. The expansion rate is three percent or even lower, yet you find moneylenders charging north of 240%," Museveni commented. He communicated specific worry about moneylenders taking advantage of unskilled borrowers by camouflaging loaning contracts as buy arrangements, frequently bringing about the deficiency of property. "A loaning contract is concealed as a buy contract. In the event that I were an adjudicator sitting for the situation, I would a