Gerald Mugisha, the Manager Equity Bank Hoima branch says government should consider the financial institutions as the directives on corona virus are being implemented adding that most of the clients could use this chance to completely default.
Financial Institutions and Money lenders in
Hoima district are struggling to recover loans disbursed to various individuals
because of the Corona virus pandemic.
of the financial institutions say their clients
have adamantly refused to service their loans citing the presidential directive
stopping certain businesses such pubs, entertainment spots and drinking joints
as a control measure against the spread of COVID-19.
Several clients affected directly by the
presidential directives have refused to service their loans.
Monica Aijuka, the
KCB Bank Manager Hoima branch says it has become so hard for them to compel
their clients to services their loans, saying they are taking advantage of the
presidential directive not to pay up.
She calls on government to come up with
appropriate measures to help the banks to recover the loans.
Dan Asiimwe, the Manager HOFOKAM Uganda limited, a money
lending firm, says their clients are complaining indicating that they are out
of business yet others are not affected by the presidential directive.
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Gerald Mugisha, the Manager Equity Bank Hoima branch wants
government to consider financial institutions while enforcing the directives on
corona virus, saying most of their clients could use this chance to default
Godfrey Balikurataki, a proprietor of a bar in
Kigorobya town council in Hoima district secured a loan from one of the financial
institutions in Hoima town.
Balikurataki says his hands are tied since he is
out of business because of the presidential directive.
He calls on
the financial institutions to exercise patience until the presidential
directives on corona virus are lifted.