In many regions of Uganda and across Africa, a significant majority of the population, comprising over 70%, is engaged in farming and small-scale businesses as their primary means of livelihood. Unfortunately, smallholder farmers and entrepreneurs in this demographic face a considerable challenge in accessing affordable capital to initiate, expand, or enhance their existing ventures. Subsequently, these individuals, often referred to as the ‘unbankable‘ by mainstream banking institutions, resort to obtaining high-interest loans from predatory money lenders. As reported by the Ankole Times, during the National Resistance Movement Caucus held at the Entebbe State House on September 28, 2023, President Yoweri Kaguta Museveni Tibuhaburwa directed the Minister for Finance to issue […]
