INNOCENT K
The Resident District Commissioner (RDC) of Rukungiri District, Mr. Brone Kikanshemeza, has urged money lenders to abandon harsh debt recovery methods that are pushing many residents into losing their land and facing financial distress.
Speaking to Boona FM, Kikanshemeza expressed concern over the increasing cases of lenders using unfair tactics to recover loans. He noted that some lenders deliberately avoid borrowers after issuing loans, allowing interest to accumulate over time with the intention of seizing collateral, especially land.
The RDC, who has served in the district for seven months, commended the people of Rukungiri for their cooperation and unity. However, he acknowledged the growing challenges surrounding money lending, pointing out that both lenders and borrowers face difficulties that need balanced solutions.
He strongly condemned exploitative practices among some money lenders, emphasizing that borrowers are often taken advantage of due to a lack of proper documentation. He advised lenders to always provide receipts for any financial transactions to avoid disputes, noting that some borrowers suffer losses simply because they have no proof of payment.
Kikanshemeza encouraged residents to seek financial services from regulated institutions such as SACCOs, where interest rates are more manageable and processes are transparent. He warned against risking valuable assets like land through informal lending arrangements.
He concluded by calling on residents to exercise caution when borrowing and to explore safer and more reliable financial options.
