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@matookerepublic Tue, 19 Nov 2024 13:49:33

EXPLAINER: What the new loan interest rate cap means for Ugandans

The government has introduced new rules to protect Ugandans from high-interest rates charged by moneylenders and microfinance institutions. Starting now, lenders can only charge a maximum of 2.8% per month or 33.6% per year on loans. Here’s what you need to know: Why Was This Law Introduced? The change comes after concerns that some moneylenders […] The post EXPLAINER: What the new loan interest rate cap means for Ugandans first appeared on Matooke Republic.

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