Government, traders urged to talk over high interest rates

By Eve Namugabi

Mukono Municipality Mayor Kagimu Geoerge asks KACITA Uganda to engage government on the high interests put on loans extended to traders from commercial banks saying that they have contributed heavily on business collapse.

Addressing the traders community in Mukono during the KACITA Uganda business campaign Kagimu says that high interest rates are a big challenge to the business community in the country that needs quick response.

He notes that if government supports employment creation and local investments it should find means to work on the high interest rates that have left a number of businesses in dilemma.

Kagimu also reveals that the municipality has plans to setup a place that will accommodate women that benefited from the government womens fund to help them market their products.

He explains that a number of women have benefited from the women fund of which many have invested and produced products that currently lack a place where they can dispose their products for market.

He notes that if the situation continues to be the same even in other areas that people have been given funds it might affect the initial objective of the fund as many will be discouraged.