Muntu promises equitable financial system, telecom loan defaulters' relief

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Many Ugandans struggling to make ends meet are trapped in a cycle of debt with no clear escape route.

However, Alliance for National Transformation (ANT) presidential candidate Maj. Gen. (rtd) Gregory Mugisha Muntu says that it will be history once he is elected into power come January 15, 2026.

Muntu promises to establish an equitable financial system to help bail out Ugandans struggling with high-interest rates from telecom companies and commercial bank loans.

“I understand the pain you are going through,” Muntu says, his voice filled with empathy. “The system is rigged against you, and it's time we take back our country. If trusted and elected, I promise to prioritise debt relief and work towards creating a more equitable financial system,” he adds.

Muntu's proposal seeks to provide relief to genuine borrowers who are struggling to repay their loans, while also promoting financial discipline and responsibility.

Addressing voters at Kashangura ward, Kagongo division in Ibanda district on January 12, 2026, Muntu pledged to address the growing concern of mobile loan defaults, which have become a significant challenge for many Ugandans.

“The mobile money ecosystem in Uganda has seen rapid growth, with over 36 million active mobile money subscribers. However, this growth has been accompanied by an increase in loan defaults, with many users exploiting loopholes to evade repayment,” he said.

“Telecom companies have begun sharing data on loan defaulters, making it harder for individuals to switch networks and avoid repayment,” he observed.

I, therefore, seek to provide relief to genuine borrowers who are struggling to repay their loans, while also promoting financial discipline and responsibility, he added.

“The plan shall involve establishing a more equitable financial system, potentially with more flexible repayment terms and lower interest rates. As the ANT government, we shall also put a standard interest rate that is lower to attract more borrowers to grow their investments in the long run,” he noted.

The municipal councillor for Ibanda municipality, Donald Murigye, said the commercial banks and money lenders aren't faring much better.

“With exorbitant interest rates, many Ugandans are finding it impossible to keep up with payments. The weight of these loans is crushing, with some even resorting to selling off their meagre assets to survive,” Murigye added.

Kyagulanyi endorsement

Muntu expressed regret over the last-minute endorsement of Robert Ssentamu Kyagulanyi aka Bobi Wine by Winnie Byanyima, the wife of detained Opposition leader Dr Kizza Besigye, who is one of the key members of the People's Front for Freedom (PFF) party, with just three days remaining to the General Election.

ANT and PFF parties signed a Memorandum of Understanding (MoU) in July 2025 to formalise their cooperation, aiming to present a united Opposition front, advocate for electoral reforms, and jointly field candidates, including supporting Mugisha Muntu for President in the 2026 elections. 

“As per our memorandum, we agreed to pursue different approaches as per the party’s strategy, and we agreed as ANT to field a presidential candidate, which I believe they respected, but I do not have control over individual decisions. As ANT, we are focused on campaigning for our own victory as a party trusted to give the change Uganda deserves,” he said.

“I do not mind whichever candidate they support, but I am here to give meaningful change to Ugandans after 63 years of living in political probability and gambling,” he added.

Muntu has, throughout his campaign, been introducing Opposition candidates, including those from the National Unity Platform (NUP) party, PFF, and sometimes Independents.

Byanyima, on Sunday, during a prayer session at Besigye’s home in Kasangati, handed over an undisclosed sum of money in an envelope to support Kyagulanyi during his campaign.