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Banks to stop penalising borrowers for early loan repayments this week

by Muhereza Kyamutetera
Dr. Michael Atingi-Ego (left) and Dr. Tumubweinee Twinemanzi the Central Bank Deputy Governor and Executive Director, Bank Supervision respectively have put the SFIs under regulatory pressure to stop the unpopular early repayment charges on outstanding loans.

This week, starting on December 1st 2023, millions of Ugandan borrowers from Supervised Financial Institutions (SFIs) have cause to smile. The SFIs, under their Uganda Bankers Association (UBA), will cease…

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About the Author

Muhereza Kyamutetera is the Executive Editor of CEO East Africa Magazine. I am a travel enthusiast and the Experiences & Destinations Marketing Manager at EDXTravel. Extremely Ugandaholic. Ask me about #1000Reasons2ExploreUganda and how to Take Your Place In The African Sun.

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