Uganda Microfinance Regulatory Authority (UMRA) board inaugurated, urged to streamline SACCOs, money lenders

There were cries of joy when investors from Global Finance opened shop and promised a 15% monthly interest for savers. Members who recruited their friends, family and acquaintances were also promised 10% of the new investment. It was a deal that was just too good to leave.

However, in the end, some 3,000 people, many with millions of shillings in the company were left to scratch their head in distress when officials from the company simply vanished in thin air.

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