Museveni Spells Doom For Moneylenders Killing People

The President of Uganda H.E Yoweri Kaguta Museveni has come out to spell doom for money lenders in the country that have killed several Ugandans especially the young people through stress.

Museveni made these comments during the summon of NRM MPs yesterday at State House, Entebbe.

According to the President, he directed the Minister of Finance to put out a statutory instrument within two weeks. This is on the interest paid to money lenders in accordance with the inflation which the NRM will support.

The President also questioned who allows these moneylenders to operate. He added that the 20% charge as interest is ridiculous.

Museveni urged NRM members not to keep quiet on the issue of corruption because it’s not necessary and needed. Therefore, all that is needed is facts to crush these corrupt people.

“While chairing the NRM Caucus at Entebbe State House this afternoon, I directed the Minister for finance to put out a statutory instrument within two weeks on the interest paid to money lenders in accordance with the inflation which the NRM will support. These moneylenders who are causing suicide to our young people, who allows them to operate? Why should someone charge 20% interest on a loan per month? This must stop.”

“On the problem of corruption, I urge the members not to keep quiet. We don’t need it and it’s not necessary, we have the capacity to crush all the corrupt people and we shall do it, all we need is the facts.”

Most of the time, the President’s message is always appreciated by the citizens because it’s always nationalistic and Pan-Africanist. However, the problem comes with implementation.

All that he says always goes down the drain without being effected. Although with a little bit of success, the president’s initiatives to fight corruption have fallen short of expectations.

For the moneylenders, these have grown in number nowadays all over the country and most are usually small-scale. These always take people’s national IDs as collateral security which Police said that it’s wrong.