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.

    Empowering Self-Sustaining Economy through Fundamental Change

    As Ugandans adopt social-economic transformation, there is a need to be reminded of the critical role of infrastructure in economic growth, which President Museveni committed to investing in: industrial parks, roads and transportation networks, and energy supply systems.

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