JBy Jumah Kakomo
The opposition Democratic party (DP) says there is alot of dust in money lenders due to the exorbitant interests they collect from their clients.
Addressing the media on Tuesday 03rd October 2023, at party headquarters Kampala during it weekly presser, the acting party spokesperson also Uganda Young Democrats President Ismail Kiirya noted that some online lenders in names of quick loans have also emerged and they are also greatly exorbitantly charging their clients with abnormal interests.
Kiirya also came out and expressed concerns about these money lenders saying however is hard to believe that the president didn’t know about these money lenders and what they do.
“The reason why Ugandans are falling prey to these money lenders it’s because of the easy access to the loans and the economy of the country,”Kiirya said.
He adds that People borrow for school fees, business, rent among others where most of the people fail to meet the deadlines and more interest in added onto them.
“We do acknowledge that there stringent laws governing money lending but why are they not regulated. What has the Ministry of Uganda micro finance regulatory authority and bank of Uganda done to go on ground because they’re supposed to register,”Kiirya stated.
He further appealed to the government to implement the regulating laws in the ministry of the Micro-Finance because most of the money lenders lend with a will of taking moggages.
“In other words they should have licenses which authorizes them to operate stipulating their locations. This can help the government to come up with the enforcement agencies like what the NDA does to check on them in the specific places where they operate from,”Kiirya elaborated.
Return of Omusinga
Meanwhile, Democratic party urged the people of Rwenzururu Kingdom to practice reconciliation and forgive each other ahead of King Charles Wesley Mumbere returning to his throne.
Tomorrow 4th/10/2023 the Omusinga Charles Wesley Mumbere will return to his kingdom after 7 years ever since he was arrested in 2016.
This comes after being cleared with all charges which he was arrested for 7 years back.
Kiirya says as Democratic party they want to congratulate the Obusinga upon this occasion which is marking the return of the king to his throne. “We are calling upon the people of Rwezururu to use this occasion for healing, reconciliation and unity among the people. Let’s forgive each other in order to continue with the kingdom, issues like finger pointing, discrimination of those they suspect to be behind the Omusinga arrest will just disorganize us the more than unifying us. Let’s forget what happened,”Kiirya stated.
