New’ Katale’ Loan scheme set to protect market traders against moneylenders

By Elijah Khisa

Money lenders that have been in the habit of overcharging their clients, especially the low-income market traders, are headed for trouble as the government has come out to protect the victims.

The senior presidential advisor on political affairs office of the president Moses Byaruhanga has revealed that plans have been finalized for the launch of the new proposed ‘Katale’ Loan scheme program whose aim is to counter the money lenders who overcharge market traders.

Byaruhanga made the remark on Friday at the Bivamuntuyo market during a special meeting with over 300 traders drawn from all the 24 different markets around Kalerwe in Kawempe division.

The meeting was convened and hosted by the chairperson of the Kalerwe market women vendors SACCO Namatta Justine with political guidance from the NRM Kawempe south aspiring MP hajjat Madina Nsereko.

The objectives included giving opportunity to the market traders to voice out the challenges they encounter at their work station such that Byaruhanga can effectively deliver them to the president.

He pointed out that research done with strategic guidance from State House had revealed that money lenders position themselves within markets with a view of lending out loans to desperate traders at very high interest rates which ends not benefitting the clients as most lose their National Identity cards and other valuables taken as loan security.

‘The president will soon launch the new Katale loan scheme program whose deliberate effort is to bail out the potential women beneficiaries who would access loans with interest rates as low as 8% per annum’ Byaruhanga observed.

Namatta welcomed Byaruhanga to the market trader’s community of Kalerwe and said the market community of Kalerwe with similar shared challenges requested financial bailout from the president of whom they collectively pledge to support come 2026 presidential elections.