The Ministry of Finance, Planning, and Economic Development has been given one month to address mounting complaints against online money lenders accused of harassing citizens, including top government officials.
Deputy Speaker Thomas Tayebwa, speaking during a parliamentary session on Thursday, December 19, 2024, recounted his personal experience with these unregulated lenders.
Tayebwa revealed that he received threats from an online money lender demanding repayment for a debtor who had listed him as a next of kin.
“There is no one monitoring them; there is only harassment and harassment,” he said, emphasizing the need for regulation without stifling legitimate business operations.
Taking to X (formerly Twitter), Tayebwa disclosed that the lenders retaliate aggressively against anyone who challenges their operations. He highlighted a case involving an activist named Legesa, who has faced backlash for attempting to expose the lenders’ actions.
Tayebwa’s wife was also a victim of threats, further underscoring the widespread misuse of technology in Uganda.
“People outside there are suffering at their hands, even government officials say they have been receiving threats,” he added.
Parliamentarians supported Tayebwa’s call for action. Hon. Fredrick Angura (NRM, Tororo South County) shared a similar ordeal, recounting how a lender named Boda Banja threatened to arrest him over a loan taken by an unidentified individual who had fraudulently listed his contact information.
“People are quietly dying at the hands of these loan scams,” Angura lamented.
In addition to urging the Finance Ministry to act, Tayebwa called on the Ministry of Information, Communication, Technology, and National Guidance to investigate and curb the misuse of technology facilitating such schemes.
This development has intensified calls for swift government intervention to protect Ugandans from predatory lending practices.