RDC sounds alert over fake ‘banks’
29th December 2008
MBALE deputy resident district commissioner has said the Government needs to urgently take action against micro-finance institutions (MFIs) that are fleecing the population.
By Joseph Wanzusi
MBALE deputy resident district commissioner has said the Government needs to urgently take action against micro-finance institutions (MFIs) that are fleecing the population.
Henry Nalyanya said there is a looming crisis because most of the victims had borrowed money from banks and deposited it in the MFIs with the hope of getting some interest.
He was speaking at the Christmas tree-lighting ceremony organised by Mbale Municipal Council.
Nalyanya said he had received reports that TEAM and Dutch International had conned people of sh7b in Mbale, sh10b in Jinja, sh15b in Kampala sh9b and in Mbarara.
The acting mayor, Hajjat Jamila Naleba, rapped the contractors of municipal utilities for using fake receipts to collect revenue, which had cost the council millions of shillings.
The town clerk, Nobert Turyahikayo, said it was a shared responsibility of the council and the residents to keep the town clean.
Mbale, he said, had lost the rating as the cleanest town in East Africa, because the residents had left it all to the authorities.
Mbale Diocese Anglican bishop Patrick Gidudu condemned the increasing cases of child sacrifice and domestic violence. He called for unity and love to promote development.
MBALE deputy resident district commissioner has said the Government needs to urgently take action against micro-finance institutions (MFIs) that are fleecing the population.
Henry Nalyanya said there is a looming crisis because most of the victims had borrowed money from banks and deposited it in the MFIs with the hope of getting some interest.
He was speaking at the Christmas tree-lighting ceremony organised by Mbale Municipal Council.
Nalyanya said he had received reports that TEAM and Dutch International had conned people of sh7b in Mbale, sh10b in Jinja, sh15b in Kampala sh9b and in Mbarara.
The acting mayor, Hajjat Jamila Naleba, rapped the contractors of municipal utilities for using fake receipts to collect revenue, which had cost the council millions of shillings.
The town clerk, Nobert Turyahikayo, said it was a shared responsibility of the council and the residents to keep the town clean.
Mbale, he said, had lost the rating as the cleanest town in East Africa, because the residents had left it all to the authorities.
Mbale Diocese Anglican bishop Patrick Gidudu condemned the increasing cases of child sacrifice and domestic violence. He called for unity and love to promote development.