@UgMicrofinAuth

Official Twitter handle for Microfinance Regulation Department (MRD) under Ministry of Finance Planning and Economic Development (MOFPED)

 Rwenzori Towers, Kampala
umra.go.ug
Joined January 2018
  • Tweets2K
  • Following283
  • Followers5K
913Media
#MondayMotivation
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Microfinance Regulation Department (MRD) retweeted
Ministry of Finance
@mofpedU12 Jun 2025
READY IS THE WORD: It's ready. #KnowYourBudget25
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monitor.co.ug/uganda/news/na… Strong credit policies can address defaulting.

Number of loan defaulters in Kalangala Oil Palm Sacco surge

Many Saccos in Masaka Sub-region, which were initially performing well, are currently struggling to stay afloat due to alleged mismanagement, while others have since collapsed as a result of loan...

monitor.co.ug
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Rise and Show Up.
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IS YOUR SACCO LICENSED? ugandaradionetwork.net/story…

SACCO Harassment: How Borrowers’ Non-Signatory Wives Ended Up in Prison :: Uganda Radionetwork

These cases have raised alarms within the Uganda Microfinance Regulatory Authority (UMRA). Its chairperson, Sheila Birungi, revealed that many SACCOs that harass customers are operating illegally,...

ugandaradionetwork.net
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RAMADHAN KAREEM.
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Our Officers have paid a courtesy visit to Kayunga RDC Mrs. Nalubega Seguya and Kayunga LCV Chairman Mr. Muwonge who raised concerns about illegal money lenders in the area. Both the RDC and Chairman pledged to support the Authority to restore sanity amongst Money lenders
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Does the pressure for love on #ValentinesDay increase or decrease? Either way, do not get tempted to borrow from illegal money lenders to impress the Love of your life .
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Why your SACCO needs a license.
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Premises inspections are underway around the country to verify addresses of institutions that applied for money lending. This activity seeks to eradicate #Briefcase money lenders.
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Earlier today, UMRA closed six illegal lending institutions in Kaberamaido. These include: - Barabesa financial services - Okaflex financial services - K&R financial services - Impifiizi Credit agencies (U) Ltd - Tayari financial services - Katokabo financial services
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Defiance will only land your Money Lending institution in confrontation with the law. Regulation 18 of Money Lending Regulations prohibits use of National ID and atm cards as collaterals in loan transactions. These companies have been closed down exposing their loan portfolio.
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89 (1) of the Tier 4 Microfinance Institutions and Money Lenders Act Cap 61 that is effective under implementation through Legal Notice No 21 of 2024. 4. Demanding and accepting national identity cards which violates Section 8 (1) of the Tier 4 Microfinance and money lenders
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Regulations.
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As we make the final bend towards ending January, here are some tips for Loan Repayment....
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#LendingApps
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Microfinance Regulation Department (MRD) retweeted
Daily Monitor
@DailyMonitor13 Jan 2025
Registration of saving groups guarantees legal protection and financial security for members bit.ly/3DRIElv?utm_medium=so… #MonitorUpdates
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Avoid such schemes
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