DP calls for implementation of money lenders act

In a decisive move to protect borrowers and regulate lending practices, Uganda's Ministry of Finance, Planning, and Economic Development on November 15, 2024, issued Legal Notice No. 21 of 2024, capping interest rates for Tier 4 Microfinance Institutions and money lenders.

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Fred Mwesigwa, the DP press secretary, said that several Ugandans have turned to online lenders since they struggle to access loans from commercial banks due to strict lending policies. (File photo)

By NewVision Reporter

Journalists @NewVision

#DP #Money lending #Online loan apps #Money Lenders Act

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The Democratic Party (DP) has called for urgent implementation of the Money Lenders Act into law to reduce over-exploitative loan practices among vulnerable borrowers.

In a decisive

Sh72.36 trillion budget for grassroots growth, financial inclusion excites Ugandans

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DP calls for implementation of money lenders act

In a decisive move to protect borrowers and regulate lending practices, Uganda's Ministry of Finance, Planning, and Economic Development on November 15, 2024, issued Legal Notice No. 21 of 2024, capping interest rates for Tier 4 Microfinance Institutions and money lenders.

Fred Mwesigwa, the DP press secretary, said that several Ugandans have turned to online lenders since they struggle to access loans from commercial banks due to strict lending policies. (File photo)

By NewVision Reporter

Journalists @NewVision

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