By Editorial,
The State Minister for Microfinance, Mr. Haruna Kyeyune Kasolo, has lifted the general ban on money lenders and imposed it on online lenders during yesterday’s dialogue organized by the Uganda Microfinance Regulatory Authority at Hotel Africana in Kampala.
Kasolo called on money lenders to operate within the law.
In December 2023, Mr. Kasolo temporarily halted the issuance of licenses to money lenders due to concerns over unfair policies.
The Minister cited the influx of unregulated online lenders, raising concerns about their lack of established operating practices.
He further warned that all unlicensed money lenders operating in Uganda will be publicly exposed through media channels to protect the general public. END.
