Traders’ Bank Strike Enters Day 2, M7 Issues Warning


viagra geneva;”>At least 90% of the shops in the city centre and its suburbs are still closed, malady according to a survey by our corps.

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As we write this, Museveni is meeting the striking traders and commercial bank managers, who hiked interest rates on old loans, at Nakasero State Lodge.

Governor of the Bank of Uganda Emmanuel Mutebile as well as the Minister of Trade and Industry Amelia Kyambadde and Fred Omach are in attendance.

The move is aimed at resolving the crisis that has brought Uganda’s economy to its knees.

The meeting follows last night’s presidential warning he would not tolerate ‘this business of strikes.’

Museveni last night cautioned the Kampala City Traders Association (KACITA) leaders against using strikes and violence saying that he will not succumb to such pressure.

“These strikes and confusion will harm our economy. There is no reason for resorting to strikes when we can discuss these issues amicably”, President Museveni said.

“I do not want to operate on pressure; I will not accept pressure and confusion. This is your country and the businesses are yours”, he cautioned.

He, however, noted that the problems that the traders attributed to the strike will be solved amicably.

The KACITA delegation was led by their Patron and Kampala tycoon Godfrey Kirumira who told the President that their members were eagerly waiting to know the outcome of their meeting.

Museveni pointed out that Uganda’s economy was performing very well as opposed to earlier pessimism.

The President will have another meeting tomorrow with them to be attended by Managers of commercial banks which have raised interest rates and the

The President said that he was unable to meet them because of his new practice of holding meetings only during the day.

Museveni explained that the traders should not close shops because all matters can be discussed.

He said that the reasons why the traders closed their shops can be handled in a better manner.

The President explained that even the banks that are accused of causing the strike belong to Ugandans.

“Any bank based in Uganda does not belong to its owners but Uganda”, he explained.


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