The executive director Private Sector Foundation Uganda, Gideon Badagawa, warns government about the continuous exploitation of commercial banks by hiking the interest rate which scares away potential investors from taking loans. Badagawa continues to state that there are a very few development banks that are offering development lending which can be utilized by investors who […]
As a result of the recent hikes of interest rates in the market, many corporate businesses are encountering difficulties in paying back the loans they have acquired from the commercial banks. A couple of weeks back, the traders in Uganda through their umbrella association of ‘Kampala City Traders Association’ staged a sit-down strike protesting against […]
The government ofUgandahas agreed with commercial banks to fix interest rates to be charged on money given out to the youth in form of loans. The minister ofUgandafor Finance Minister, Maria Kiwanuka says that the banks will charge 15% for a period of six months. Some of the banks the government has agreed with include […]