Angry Customers Mob Front Page Micro Finance

The situation remained tense until police reinforced and drove away Mr Henry Watira, FrontPage’s public relations officer to the Central Police Station (CPS) for safety.

“We want our money back, these people keep on tossing us by shifting the dates when we are to get our money, but even Bank of Uganda passed a statement saying the unlicensed institutions were not recognised by them, so it means we can’t get our money back,” said Mr Julius Matovu one of the enraged clients…..

According to the November 19 statement by BoU, any one who loses money to any of the MFIs that are outside the Bank’s supervision and regulatory reach, has no recourse for compensation because it can’t intervene on behalf of any such person….

This effectively implies that the hundreds of others that operate throughout the country can literary disappear with depositors’ money with little worry of punitive action from any one.

Soldier caned for knocking Museveni’s van

A PRESIDENTIAL guard has been given 100 lashes for allegedly knocking a caravan, which President Yoweri Museveni uses as his mobile office and a bedroom while on safari.

Chogm hotels owe govt Shs2b

Post-Chogm audits are underway in which hotels allegedly owe government close to Shs2 billion earmarked for guaranteeing the rooms for the delegates.