Stephen Obeli Archives – CEO East Africa

Money lenders lock horns with UMRA, Finance Ministry over 2.8% interest cap

Paul MurungiThe Big StoryNovember 20, 2024November 20, 2024

Money lenders and some private sector players have warned of dire consequences to the economy over the new interest cap of 2.8 percent per month for money lenders instituted by the Uganda Microfinance Regulatory Authority (UMRA) and approved by the Ministry of Finance. Jonan Kandwanaho, the Chair of the Association of Money Lenders in Uganda (AMLU) said his team is considering court action, while other options are still being discussed since there were no prior consultations made to stakeholders. UMRA, Ministry of Finance and money lenders have been in a cat and mouse relationship over the last few years over…

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How e-commerce startup Kweli.shop is helping solve Uganda’s counterfeits problem

Jonathan N. LubwamaCompany News News & AnalysisFebruary 16, 2023February 16, 2023

In 2018, the Uganda National Bureau of Standards (UNBS), conducted an operation in Kampala. It raided two prominent malls; Energy Centre and Light Centre Arcade. The majority of the shops in these two malls sell electronics. At the end of its operation, UNBS concluded that 80% of all electronics sold were counterfeit. This is not surprising. One common feature of e-commerce in Uganda is the phenomenon aptly summarized as, “what you ordered vs what you received”. To change this, Stephen Obeli Someday founded Kweli.shop, an e-commerce startup that has made it a goal to sell only genuine electronics. “We have…

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