Museveni critics banks on cost of loans

EYEAFRICA TV: Kampala, Uganda: Presiding over the closing ceremony of A 2-day Uganda-European union business forum at speke resort hotel in Munyonyo, President Yoweri Museveni hailed the EU for supporting Uganda in enhancing infrastructural development, citing the rehabilitation of the Tororo-Gulu Meter gauge railway. “We are building the standard gauge railway,” President  Museveni said.

He, however, criticized commercial banks for being exploitative and lending money at exorbitant interest rates, which he said, impact negatively on Uganda’s socio-economic development agenda.

With more collaboration in business and strengthening of bilateral ties, the EU and Uganda will immensely benefit in the coming years.

As Uganda re-focuses on tapping into the lucrative EU market, improving of standards products and adding value to the mainly agro-products is emphasized.

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