By APN Reporter
The Uganda boarder security control Officer in the ministry of
internal affairs, Nicholas Ndyomugyenyi, has challenged leaders of
financial institutions to always be transparent if their institutions
are to thrive.
Ndyomugyenyi made the remarks yesterday, while officiating at the
launch of Rubanda Friends Association, an association that was formed
on 10th August with an aim of helping members in times of loss of
their beloved ones, as well as lending financial assistance to them.
The function was held at Mulore preparatory school playground, in
Mulore village, Nyakabungo ward in Mulore town council of Rubanda
Ndyomugyenyi noted that many financial institutions in Uganda have
collapsed, due to lack of trustworthiness of the executive leaders,
who borrow a lot of money from the institutions at a reduced or no
interest which deprives members of the right to the profits expected.
The guest speaker at the launch, Fred Kamunyu a property consultant
and business in Kampala appealed to members to avoid extravagancy, if
they are to prosper financially.