The Minister of State for Energy and Mineral Development, Phiona Nyamutooro, has called on stakeholders to explore advancements in...

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.

The directive aims to protect consumers from predatory lending practices and ensure that borrowing remains accessible and fair. By establishing a clear interest rate cap, the government seeks to foster a more equitable and fair financial environment for individuals seeking loans.

The newly appointed board, chaired by Dr. Robert Kyamanywa, faces the challenge of addressing rampant youth unemployment that has affected countless families across the country.

The National Social Security Fund (NSSF) has announced an interest rate of 11.5% for the financial year 2023/2024, an increase from the 9.7% that was declared the previous year.

The primary objectives of the consultative workshops include providing feedback on issues raised during last year's budget consultations, discussions about the budget strategy for FY 2025/26, and discussions about the strategic direction of the NDP4, the 10-fold growth strategy, and how this will translate into local economic growth.

The government plans to strengthen governance and the public sector with a focus on eliminating corruption.

The additional Ugx 20 trillion inflates the budget and makes it unrealistic, and it has increased the domestic revenue to be collected by the Uganda Revenue Authority (URA).