MONEY

Public warned against using money lenders

By Sania Babirye

The Kabula county Member of Parliament  James Kakooza  has advised  his electorates and Ugandans at large  to  desist from  borrowing money from quark money lenders to avoid losing their property in unclear circumstances.

Speaking to the media in Lyatonde, Kakooza explained that the problem of quark money lenders is a big problem and  which needs massive sensitization.
He says that many desperate Ugandans in need of urgent loans find themselves running to such quark money lenders for a quick loan instead of using well established financial institutions and in the end many have lost their land, houses, and  money among other things.
Kakooza says people should stop using money lenders  and instead use  financial institutions like  banks that do offer genuine money lending services without any intention of wanting to take  peoples properties.
Kakooza is now appealing to the public to first consult their area local leaders  before borrowing money to not fall prey to quark money lenders.

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