How rural financial centres save Ugandans from high interest rates

Andrew Kyepa, CEO of the Uganda Federation of Maul Geumgos (village bank) Community Credit Cooperatives (UFCC), believes that establishing rural-based financial centres will protect poor Ugandans from exorbitant interest rates charged by commercial banks.

“The path to financial inclusion is rural development. We must establish rural-based financial institutions capable of providing affordable financial services,” he told this publication on Monday.

Uganda’s National Financial Inclusion Strategy (NFIS) 2023-2028 aims to reduce poverty and promote economic growth through affordable…