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Residents in Kibaale Decry Money Lender Harsh Conditions

Written by on 15/02/2022

Residents of Kigujju village in Bubango Sub County, Kibaale district have expressed dissatisfaction over unlawful acts by officials from Mammutex investment limited in the process of demanding loans recovery from their clients.

The residents’ condemnation follows on Monday in which officials from Mammutex investment Ltd a private financial institution that offers loans and other financial services unlawfully arrested Matia Kyaligonza the chairperson LC1 of Kigujju village.

Matia Kyaligonza narrates that in 2019 he obtained a loan worth 500, 000 from Mammutex and he paid in installments of worth shs300, 000 remaining with few balances but recently he received a demand note showing that the company is demanding him over 3 million.

Suddenly, police men and one of the Mammutex proprietors Vincent Tinka arrested the area chairperson accusing him of refusing to pay the loan.

Unhappy residents say that the brutal way in which the company is demanding money is risky and unfair.

However, Vincent Tinka promised to comment on the matter later.

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