Business
Uganda: Traders strike over high interest rates
He says traders will go ahead and protest with all they can against what he calls unfair practice by financial institutions which have the leeway to increase their lending rates.
There is heavy police deployment in different parts of the city with police officers patrolling on foot and police vehicle on standby at several streets.
Last year, the same Kampala traders protested against the increasingly depreciating shilling against the dollar accusing government of being reluctant to avert the situation. Traders were finding it hard to trade given the depreciating value of the shilling against the dollar but they called off planned protest activities after KCCA promised to restore trade order in the Central Business District.
The traders ‘strike has attracted many other workers sectors to also start calling off strikes, Makerere University lecturers have also threatened to strike in two weeks if the government does not come out with a position on their top up allowances and paying their arrears.
According to Teopista Birungi Mayanja, the secretary of Uganda National Teachers’ Union (UNATU), the teachers who claim are working under terrible hardships are waiting to hear from the government, if their grievances are not responded to, they will go on a sit down strike.
The teachers demand for an increase in their salary from the current Ush200,000 (US$ 83) to Ush 500,000 (US$ 207), They are also complaining about the high taxes which are levied from their meagre salaries and want the government to put that into consideration immediately.
The main opposition political party, Forum for Democratic Change (FDC) has asked the government to respond to the concerns of Kampala city traders and Makerere University lecturers to avoid strikes by the two bodies.
FDC spokesperson Wafula Ogutu says if the date given by traders passes when their issues are not resolved, the party will not hesitate to join the demonstration.
