Crackdown Looms On Moneylenders As Gov’t Moves To Overhaul Credit System

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By Spy Uganda The Government of Uganda has acknowledged that the country’s credit regulatory framework disproportionately favors lenders, exposing borrowers especially those in the informal sector to exploitative practices. Appearing before Parliament’s Public Accounts Committee (PAC), Secretary to the Treasury Ramathan Ggoobi admitted the imbalance and revealed plans to introduce a borrower-focused information system aimed…