Regulating micro finance: Money lenders must get licensed or close
The State Minister for Microfinance, Haruna Kassolo, has warned that illegal money lenders will be prosecuted and thrown out of business if they don’t obtain licenses from the microfinance regulatory authority. He has tasked the authority to conduct strict due diligence on factors such as office premises and license expiry dates before issuing licenses. This warning was issued during a meeting of money lenders hosted by the microfinance regulatory authority this morning in Kampala.
