Money lenders
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News
Govt to tame money lenders over confiscation of national IDs
KAMPALA, January 26, 2025 — The Prime Minister, Robinah Nabbanja, has condemned the confiscation of National Identity Cards [IDs] by money lenders as collateral for loans, describing the practice as a violation…
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News
Museveni to set up boda boda loan schemes
IGANGA, January 25, 2025 – President Yoweri Museveni plans to set up loan schemes for boda boda riders in Uganda, with an intent of saving them from exploitation by private companies giving…
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News
Gov’t asked to deal with illegal online money lenders
KAMPALA, December 21, 2024 – The Ministry of Finance, Planning and Economic Development has been given to respond to the claims that local online money lenders are harassing Ugandans including top government…
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News
Money lending: Mbarara leaders welcome 2.8 percent interest rate cap
MBARARA, December 6, 2024 – Leaders from Mbarara and the broader Ankole Sub-region have praised the government for introducing an interest rate of 2.8 percent per month on loans charged by the…
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News
Multiple loans drive teachers to flee Nebbi schools
NEBBI, November 27, 2024 – Four months have passed, and the Education Department in Nebbi Municipality is still unable to locate three teachers who reportedly disappeared from their schools, fearing arrest by…
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News
Money lenders in Lira City arrested over retaining clients’ national IDs as collateral
LIRA CITY, August 6, 2024 – Police in Lira City West Division have arrested three money lenders in Lira City for allegedly keeping the national identity cards [IDs] of their clients as…
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News
Money lenders, SACCOs warned against holding clients’ IDs as collateral
KAMPALA, June 28, 2024 – Money lenders and, Savings and Credit Cooperatives [SACCOs] in the country that have a habit of holding on to national identity cards [ IDs] of their clients…
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Cooperatives & Communities
UMRA protests merger, asked to present comprehensive report on achievements
KAMPALA, February 28, 2024 – The Uganda Microfinance Regulatory Authority [ UMRA ] is against the move by government to push it back to the mother Ministry of Finance, saying that its…
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Cooperatives & Communities
Minister Kyeyune to UMRA: Don’t issue licences to online money lenders
Kampala, January 30, 2024 – The State Minister for Microfinance, Haruna Kasolo Kyeyune has advised the Uganda Microfinance Regulatory Authority [ UMRA not to license online money lending platforms, saying it is…
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Cooperatives & Communities
Kasese health workers form SACCO for financial empowerment
KASESE, November 7, 2023 – Health workers in Kasese district have formed a Savings and Credit Cooperative Organisation [SACCO], saying it will empower them financially. The members said their new SACCO which…
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