SumSung SumSung SumSung
Matooke Republic
Thursday, September 18, 2025
  • Home
  • News
  • Entertainment
  • Gossip
  • Features
  • Business
  • Sports
  • Health
  • Photos
  • Relationships
Matooke Republic
  • Home
  • News
  • Entertainment
  • Gossip
  • Features
  • Business
  • Sports
  • Health
  • Photos
  • Relationships
No Result
View All Result
Matooke Republic
No Result
View All Result

Here is the list of illegal online loan apps you should avoid

Matooke Republic by Matooke Republic
August 27, 2024
in Business
Reading Time: 5 mins read
54
SHARES
Share on FacebookShare on Twitter

The Uganda Microfinance Regulatory Authority (UMRA) has identified and listed 59 online applications that are operating illegally, providing loans without the necessary licenses and approvals.

As the primary regulator of microfinance institutions and money lenders in Uganda, UMRA is taking steps to address the growing concern of unregulated online lending.

These unauthorized entities have been exploiting digital platforms, including mobile apps and social media, to offer credit to unsuspecting borrowers, often disregarding consumer protection standards and compromising sensitive consumer data.

RELATED POSTS

UGEFA and Equity Bank Uganda continue partnership to boost green enterprises

Aga Khan transfers Nation Media Group ownership to NPRT Holdings

#PublicNotice A list of Illegal Online App money lenders is out in @newvisionwire
Kindly get your copy and read more. Avoid borrowing from unauthorized lending entities. pic.twitter.com/JuCTYkzbZ7

— Uganda Microfinance Regulatory Authority (UMRA) (@UgMicrofinAuth) August 26, 2024

The lack of oversight has led to numerous complaints from Ugandans on social media, citing exorbitant interest rates and harassment by lenders using vulgar language to demand repayment.

UMRA’s move aims to protect consumers and maintain the integrity of the financial sector. The regulator urges borrowers to exercise caution and only engage with licensed and reputable lenders.

Below is the list of the illegal loan apps

Below are illegal online loan apps in Uganda:

  1. Flypesa
  2. Banana App
  3. Loango
  4. Nile Credit
  5. Gloan App
  6. Boom Loan
  7. Mpacash
  8. Cashpulse
  9. Credit Lab
  10. Flowerloan
  11. Wind-Money
  12. Lever Credit
  13. Cashmate
  14. Ezee Loan
  15. Sunlit
  16. Wind Money
  17. Cashflow
  18. Moji Loan
  19. Ozzy Money
  20. Mumu Money
  21. Kasquick
  22. More Pesa
  23. Get Cash
  24. QuickLoan: Reliable Online Loan
  25. CashPulse
  26. KashBus
  27. YeLoan
  28. SenteHub
  29. CreditLab
  30. Echo Loan
  31. GetLoan-Online Fast
  32. Fair Loans
  33. SweetLoan-Loan App
  34. Banana Credit
  35. Loan Cash-Easy Instant Loans
  36. Borrow Money-Get Online
  37. CashPe Instant Loans
  38. Faircash
  39. Azima Instant Loan
  40. Quick Loan
  41. Easy Mobile Loan
  42. Smart Quick Cash
  43. Cash4You Mobile
  44. Cash Lender Mobile
  45. CashGo Mobile Loans
  46. Unity Loans
  47. Happy Credit Quick Loans
  48. CashNow
  49. Mobi Loan
  50. CashPe Easy Loan
  51. Rapid Mobile Loans
  52. Quick Cash Loans
  53. Credit Sente Loans
  54. Muno
  55. My Loan
  56. Real Cash
  57. Star Loan
  58. Echo Loans
  59. Fair loans

Related

Tags: Online Loan AppsUganda Microfinance Regulatory Authority
Share22Tweet14Send
Matooke Republic

Matooke Republic

Freshly peeled info from area code 256

Related Posts

No Content Available
Next Post
Phiona Nyamutoro and Eddy Kenzo.

"He has a great wife," Minister Nyamutoro gives reasons why Kenzo deserved the Presidential appointment

Matilda Babuleka Marketing Manager Beer portfolio, Omukama of Tooro, Dr. Oyo Nyimba Kabamba Iguru Rukidi 1V, Andrew Kilonzo the Managing Director of UBL and Edgar Kihumuro Brand Manager of Pilsner Lager.j

Pilsner Lager boosts Tooro kingdom coronation anniversary preparations with Shs100 million contributions

RECOMMENDED

If you fear prison, please leave the struggle — Bobi Wine

September 18, 2025
UGEFA team together with the bank representatives.

UGEFA and Equity Bank Uganda continue partnership to boost green enterprises

September 18, 2025
  • 642 Followers
  • 23.9k Followers

MOST VIEWED

  • Uganda vs Senegal: CAF reduces online ticket purchases per person ahead of quarter-final clash this Saturday

    578 shares
    Share 231 Tweet 145
  • How to buy tickets for CHAN 2024 matches in Uganda

    556 shares
    Share 222 Tweet 139
  • FULL LIST: Winners and Losers in the NRM CEC Elections

    148 shares
    Share 59 Tweet 37
  • Jose Chameleone’s wife Daniella Atim files for divorce over desertion and emotional neglect; Seeks custody of five children and ownership of Sseguku matrimonial home

    87 shares
    Share 35 Tweet 22
  • UPDF Assistant Chief of Defence Intelligence found dead

    72 shares
    Share 29 Tweet 18
Matooke Republic

Uganda's only free Newspaper. Out every Thursday. Freshly peeled info. kiwatule, Kampala, Uganda.

  • Home
  • News
  • Entertainment
  • Gossip
  • Features
  • Business
  • Sports
  • Health
  • Photos

© Matooke Republic 2024

© Matooke Republic 2024

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.