Accountant faces land loss over excessive loan interest
Chris Mukooli Henry, a 56-year-old accountant, is facing the loss of his 6-acre land in Kagwe, Mukono, to a moneylender due to alleged unjustifiable interest accumulation. Mukooli took an 11 million shilling loan from Bei Investment Ltd, but after seven months of defaulting, he received a notice demanding 60 million shillings for the land. Mukooli claims the lenders never provided a payment schedule or a copy of the loan agreement. Last year, the government passed a law regulating moneylenders to curb excessive interest rates. Sudhir Byaruhanga reports.
