Bank teller: Money exchanges hands
Parliament was told some teachers borrow Shs2m and end up paying Shs40m.
By Prisca Wanyenya
Prime Minister Robinah Nabbanja has said Cabinet will discuss exploitative money lenders fleecing teachers, after Parliament was told some teachers borrow Shs2m and end up paying Shs40m.
She made the commitment during the October 1, 2026 plenary sitting while responding to a concern raised by Terego Woman MP Rose Obigah, who accused money lenders including Letshego, Platinum and Premium of “stealing” teachers’ salaries.
“As my brother was weeping for me, I am bleeding internally. Teachers called me from Kabale up to Kitgum. It is too much. These people give Shs2m loan, the teachers end up paying Shs40m. You will never finish paying this loan,” Obigah said.
“They are disturbing the teachers like there’s no tomorrow. I am tired, my prayers. Can the ministry, through you, can the Committee of Finance summon all these people? I am ready to produce over 50 witnesses so that they come and explain why they are doing this,” she added.
Parliament was told there are cases where teachers’ loans are transferred from one money lender to another without their consent. When teachers seek information on the transfers, the lenders tell them to go to their headquarters in Kampala.
Obigah called for Bank of Uganda to explain the policy under which the money lenders operate and threatened closure if they fail to comply.
“Can Bank of Uganda explain through the Committee of Finance whether there’s a policy through which these money lenders operate? Lastly, worst come to worst, can they all be closed and we deal with banks?” she asked.
Speaker Jacob Oboth asked the Prime Minister to clarify how government will resolve the matter, noting it undermines government’s policy of improving teachers’ livelihoods through salary increments.
Nabbanja admitted this is not the first time such complaints have been raised before Parliament and said it requires President Museveni’s intervention.
“As you can hear, members, almost in every part of this country, Platinum and that other money lender, they are taking advantage of our vulnerable teachers. I’m of the view that, because I remember this matter was brought to the last Parliament, and we all agreed that this must stop, and so it seems it’s still continuing. I am of the view that Cabinet will interest itself in this matter, and then we will handle it with the Head of State,” Nabbanja said.
Concerning exorbitant charges by money lenders it’s true and nearly all the financial institutions are doing the same, like Duck hill arua you visit there office for complaint they start to harash you, I picked a loan from Duck hill am still suffering the pain of endless deduction