Govt, borrowers share blame of high interest rates, says Ggoobi 

Permanent Secretary and Secretary to the Treasury Ramathan Ggoobi has said that both government and borrowers are to blame for Uganda’s high interest rates. 

Speaking during the second National Microfinance and Savings Group Conference 2024 in Kampala, Mr Ggoobi said that whereas some government actions partly contribute to high interest rates, the blame is equally shared by borrowers, some of whom are not creditworthy, untrustworthy, and lack good quality collaterals against which loans are advanced.  

For instance, he said, because government has been increasingly borrowing…