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Tag Archives: UMRA

Government to protect Sacco savers’ deposits

Kampala, Uganda | THE INDEPENDENT | SACCO savers are set to get relief from the rampant losses due to group dissolution or liquidation as well as closures for any reason, as the government is set to implement a fund to secure their savings with different SACCOs in the country. The SACCO …

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Microfinance regulator warns lenders on licenses, delinquent loans

Kampala, Uganda | THE INDEPENDENT | The Uganda Microfinance Regulatory Authority-UMRA has rallied money lenders in the country to secure the requisite licenses to safeguard them against loan delinquents. Delinquency can negatively impact a borrower’s credit, and this gets worse the longer the balance remains unpaid. Several Ugandans have ended up …

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UMRA announces crackdown on unscrupulous micro lenders

Kampala, Uganda | THE INDEPENDENT | The Uganda Microfinance Regulatory Authority-UMRA is launching what they have called impromptu operations against Tier4 microfinance institutions and moneylenders that are either not registered or are violating licensing terms. This follows persistent complaints from the public about fraud in the industry as well as uncoordinated …

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MPs ask UMRA to clamp down on loan sharks

Kampala, Uganda | THE INDEPENDENT |  The Finance Committee of Parliament has tasked Uganda Microfinance Regulatory Authority-UMRA crackdown on unscrupulous money lenders illegally operating in the country. This came up when the UMRA, Edith Tusubira appeared before the committee on Wednesday alongside the Microfinance State Minister, Haruna Kasolo to present their …

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UMRA tasked to probe illegal deposit-taking microfinance institutions

Kampala, Uganda | THE INDEPENDENT | District leaders in Bunyoro sub-region have asked the Uganda Microfinance Regulatory Authority to investigate microfinance institutions that are illegally taking deposits from members of the public. The call was made at the launch of a campaign organised to create public awareness on the mandate …

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Regulator blacklists Dunamiscoins for fleecing Ugandans

Kampala, Uganda | THE INDEPENDENT | The Uganda Microfinance Regulatory Authority has blacklisted a cryptocurrency exchange known as Dunamiscoins Resource Centre Ltd. The initial license issued to the company last year has expired, and according to the authority, it will not be renewed. UMRA, the regulators of Tier 4 Microfinance …

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