Hundreds of shops in Kampala, Mityana, Masaka and Mubende district have been closed as traders under their umbrella association of Kampala City Traders Association (KACITA) started their three-day sit down strike protesting against high interest rates charged on loans by commercial banks.
The commercial banks operating in Uganda charge over 27% on loans. Our reporters in Mityana, Kampala and Mubende among other districts have told us that most of the shops in Kampala and other districts have not opened today amidst the government requests to them to open the shops.
The spokesman of Kampala City Traders Association (KACITA), Issa Sekitto has told us that they will continue with the strike for the next three days until the government directs commercial banks to reduce the interest rates.
The government deployed soldiers to threaten traders not to open shops in vain.
By Moureen Nakyanzi