Uganda: Museveni Declares Another Liberation War

President Museveni was short of declaring he was returning to the bush, again, this time to sort out moneylenders whom he says are exploiting this Bazzukulu.

Speaking at the opening of the Southern and Eastern African Chief Justices Forum at Munyonyo on Tuesday, Mr Museveni said his government was working on a law to regulate extorting moneylenders who trap unsuspecting borrowers.

“Moneylenders are becoming a problem,” he said.

“How can a lending agreement turn into a selling agreement?”

Many Ugandans have lost their property to moneylenders who take advantage of ignorance.

In a capitalist economy like Uganda’s, moneylenders have thrived due to the informal nature of the economy that limits access to formal loan services by banks.

The moneylending sector is a big one from the lower ranks to high-end dealers who include some of the biggest business moguls in the country.