By Jumah Kakomo
Kampala city traders association Uganda (KACITA-U) has expressed concerns over the current financial and economic status in the business community across the country.
The acting chairman of KACITA-U, Thadeus Musoke Nagenda asserts that most people are losing their property due to failure to pay off their loans.
He adds that in most cases loans are secured to sustain and maintain a business however, considering the current economic situation loans have become bottlenecks to people in the business community leaving most of them totally bankrupt and out of business.
Musoke has also expressed grief over another tax burden which has continuously been imposed on the already limping business which has ultimately forced many to close down and rendered unemployed.
Now Musoke has recommended that the special fund for traders which the president pledged be to favor and boost businesses should be handed to trader’s association for management since the associations best understand the private sector members’ needs.
