Govt caps moneylenders’ interest rate to 2.8% after Museveni concern
Government has set 2.8% as the interest rate to be charged by moneylenders per month.According to the Tier 4 Microfinance Institutions and Money Lenders Bill 2024, moneylenders will only be allowed to charge up to only 33.6% annually in interest rates.The legal notice about the interest cap was signed and published by the Finance Minister, Matia Kasaija on November, 15.Section 90 of the Tier 4 Microfinance Institutions and Moneylenders Act 2016 says a minister may in consultation with the authority by notice in the Gazette, prescribe a maximum interest rate which a money lender shall charge.The law also says a moneylender who charges an interest that is higher than the maximum interest rate prescribed by the minister commits an offence and on conviction, is liable to a fine not exceeding fifty currency points(shs1m) and the court may, in addition to the fine order that the money lenders licence be cancelled and the money lender pays the borrower any money paid in excess as a result of the interest rate charged.According to Kasaija, the interest rate was reached at in consultation with the Uganda Microfinance Regulatory Authority(UMRA).Whereas previously moneylenders charged high interest rates which on many occasions saw borrowers fail to pay back the loans and have their security attached, the latest move will save the public from these loan sharks.President Museveni recently said he had launched a war on moneylenders whom he said are exploitative.“”Moneylenders are becoming a problem. How can a lending agreement turn into a selling agreement. These money lenders who are causing suicide to our young people, who allows them to operate? Because I wanted to cancel all the loans of the money lenders,” Museveni said recently.“Why should somebody charge 20% per month.” https://www.ugbulletin.co.ug/govt-caps-moneylenders-interest-rate-to-2-8-after-museveni-concern/
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Ugandan Citizen Abducted, Held in Secret Detention for Three Months, Sparks Outrage and Calls for Justice
A disturbing new case of unlawful detention has surfaced, highlighting the ongoing human rights crisis in Uganda. A Ugandan citizen was reportedly abducted and held in a secret facility, known as a “safe house,” for three months, only to be released without charge or explanation. This incident, reported by NTV Uganda, has sparked widespread condemnation and renewed calls for accountability regarding human rights abuses in the country.
While the details surrounding the abduction remain unclear, reports indicate that the individual was taken without due process and held incommunicado—an action that has long been condemned by human rights organizations. The victim’s release, with no charges filed and no clear justification, has angered activists and citizens, who view this as yet another case of egregious abuse of power by the state.
“This is a recurring pattern,” said one human rights activist. “Abductions, secret detentions, and unexplained releases have become all too common in Uganda. These acts violate fundamental human rights and erode public trust in the justice system.”
The use of “safe houses,” unregistered detention facilities reportedly operated by security forces, has been a focal point in numerous allegations of torture and illegal imprisonment. Despite repeated calls from both local and international organizations for their closure and accountability for those involved, little action has been taken to address these violations.
This case underscores the urgent need for reform within Uganda’s security apparatus and greater accountability for human rights abuses. Observers hope that drawing attention to these injustices will spur concrete action to bring those responsible to justice and ensure the protection of basic human rights.
As frustration mounts, calls for both domestic and international pressure to hold the government accountable for such crimes grow louder. “One day, there must be accountability for all these crimes against our people,” stated one social media user, reflecting the sentiments of many Ugandans.
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NUP Gathering Disrupted: Kyagulanyi Alleges Security Force Harassment and Arrests
National Unity Platform (NUP) President Robert Kyagulanyi has accused Ugandan security forces of using excessive force to disrupt a planned NUP gathering. The allegations were detailed in a statement shared on Twitter, following an event held to honor children of NUP supporters who were killed, disappeared, or detained for their political beliefs.
According to Kyagulanyi, security personnel, under the command of an officer identified as Asiimwe, carried out a preemptive operation early in the morning upon learning of the NUP’s plans. The forces allegedly stormed the premises, arrested workers, and deployed tear gas to disperse those present.
“The criminals under the command of one Asiimwe deployed early morning, arrested our workers, and threw tear gas into our premises. They’ve cordoned off the premises and blocked all people from accessing the place,” Kyagulanyi wrote.
Among those reportedly arrested were Saava Peter, Mudenya Samson, and Turyasingura Samson. Kyagulanyi claimed the detained workers were subjected to beatings and interrogated about their political affiliations, with security operatives labeling them as terrorists.
“These JATT operatives asked the workers who they support politically, branding them terrorists and criminals—their only crime being that they work with us. You can imagine the indignity!” Kyagulanyi lamented.
This incident adds to the growing tension in Uganda’s political climate, where opposition parties frequently accuse the government of stifling dissent. Despite the challenges, Kyagulanyi ended his statement with a message of defiance and optimism, proclaiming, “UGANDA WILL BE FREE.”
NUP Gathering Disrupted: Kyagulanyi Alleges Security Force Harassment and Arrests
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Sudan Demands Apology from Uganda Over Army Chief Muhoozi Kainerugaba’s Threat to Invade Khartoum
Sudan has demanded an official apology from Uganda over “offensive and dangerous” comments made by the chief of Uganda army staff, who threated to invade Khartoum, the Sudan Tribune has reported.
General Muhoozi Kainerugaba, son of Ugandan President Yoweri Museveni and CDF of the Ugandan army, posted two comments on the X platform on Tuesday in which he threatened “to capture Khartoum” with the support of the US President elect Donald Trump after he takes office. The posts were deleted later.
“The government of Sudan demands and official apology from the Ugandan government for the offensive and dangerous comments of the army commander,” Sudan’s foreign ministry said in a statement that the Sudan Tribune said it has seen.
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