Tag Archives: Loan

By Kasirye Ronald, Journalist, TV Producer, and CEO of Ronkas Media Uganda’s government is once again preparing to borrow heavily in the name of development. This time, the request before Parliament is for Shs 8.2 trillion, roughly USD 2.1 billion, allegedly to finance energy and infrastructure projects. On paper, it sounds like progress. In reality, it is another act in …

  A major financial scandal has erupted in Uganda’s microfinance sector after Hon. Rose Obinga, the Woman Member of Parliament for Terego District, personally stormed the offices of Premier Credit Limited in Arua City. In a viral, high-tension video, the “tough-talking” legislator accused the subsidiary of The Platcorp Group of operating a calculated debt trap that allegedly exploits poor civil …

*Owner Already Entangled in Stanbic Bank Fraud Case Involving Illegal Property Sale The heat is turning up for Soroti businessman Emmanuel Abunyang, owner of Strikers Hotels and Clubs Limited, after the Uganda Development Bank (UDB) issued a Notice of Default demanding the repayment of over Shs1.57 billion in overdue loan arrears — or risk losing his property. A leaked document …

By Our Reporter | Kampala A fresh storm is brewing in Uganda’s microfinance sector after a whistleblower accused Fincredit Uganda Ltd of systematically concealing loan agreements from its clients, a practice described as “a coordinated act of robbery disguised as financial service.” The allegations, contained in a whistleblower disclosure letter submitted to the Uganda Microfinance Regulatory Authority (UMRA) and State …