RDC Mwesigye Urges Kanungu Money lenders to return confiscated ID’s.

Kanungu Resident District Commissioner Ambrose Mwesigye Amanyire has urged all money lenders to return people’s National Identification cards which they handed over as collaterals and find other ways of getting back their money or instead take their photocopies.

RDC Mwesigye made the directive on Monday July 1, 2024 while in a meeting with Kanungu District Money lenders at the District Council Hall where he explained the new regulatory laws for money lending.

He urged money lenders to build a strong relationship with their customers and stop charging them high interest rates. The presiden’ts representative further said that all un registered money lending services will be closed permanently if they totally fail to register and get licences. Mwesigye in strong terms warned money lenders to stop conniving with police officers and judges.

While speaking in the same meeting, the Kanungu District Deputy RDC Gad Ahimbisibwe Rugaaju urged them (Money lenders) to stop pressurizing and forcing borrowers to pay daily on their loan interest rates and charging exorbitant and company interest rates on loans. He further called on Money lenders to stop summoning loan defaulters without court orders.

Rugaaju said that court is the only office with authority to charge defaulters but not Police or a Money lender and  urged them to always have record kept and issue receipts after a borrower pays to avoid conspiracy

Kanungu District Senior Commercial Officer Atuheire Mark urged them to register their companies, licence their money lending services and register with authorities and stop operating illegally. He said money lender should stop taking advantage of their borrowers ignorance by selling their borrowers land and urged them to stop taking their land titles as collaterals.