Tuesday, November 19, 2024
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    The directive is in accordance with section 89(1) of the Tier 4 Microfinance Institutions and Money Lenders Act, which states that the maximum interest rate that a money lender shall charge on the principal or the actual sum of money advanced as a loan to a borrower is two point eight percent (2.8%) per month or thirty-three point six percent (33.6) per annum.
    Muhoozi outlined the main areas of focus for the reforms, which would include strengthening Uganda's Bill of Rights, improving the delivery of court services, and simplifying corporate procedures through promoting the "3Cs" of communication, coordination, and cooperation as fundamental to coexistence and progress.

    UCC Calls for Posta Uganda’s Financial Bailout as License,...

    UCC officials know that if Posta Uganda can’t fix its financial issues, they might have to suggest that a private company take over as the national postal operator, similar to what happened in Algeria, Egypt, and Morocco, which change could give more power to international companies like DHL, potentially upsetting the local postal services.

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