DP calls for implementation of money lenders act
19th November 2024
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.
PREMIUM News
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)
