Kampala, Uganda | JULIUS BUSINGE | As of April 01, Letshego Uganda rolled out a repayment holiday facility to its borrowers in response to the negative impact caused by the coronavirus pandemic.
Officials said on May 05 that the repayment holiday involves giving a customer a three month moratorium- meaning they will not be required to pay their installments during that duration.
President Yoweri Museveni has urged financial institutions to offer financial relief to their customers during this time of COVID-19 pandemic.
“The repayment holiday allows you to take some time out from the financial burden of repayments. It is important to note that this holiday mainly targets those customers whose businesses have been affected by government intervention measures during the current COVID-19 through business lockdown and closure,” Giles Aijukwe, the CEO of Letshego explained.
He listed the sectors as: education, tourism, transport, leisure and hospitality.
The employees/clients that belong to these employers/industry sector will apply for the holiday and be approved based on the case presented.
Uganda had confirmed a total of 98 coronavirus cases by May 06, of which 55 patients have been treated and got recovered. No death case had been reported.
The President extended the country’s lockdown by 14 days starting May 4. He also directed that wearing of face masks in public be mandatory.