Business

Park Yard Vendors Start Receiving Loans

Tycoon Hamis Kiggundu donated Shs. 100million to Park Yard traders last week
Tycoon Hamis Kiggundu donated Shs. 100million to Park Yard traders last week

Nakivubo Park Yard vendors yesterday started receiving loans from the money donated to them by the city business man Hamis Kiggundu.

Last week, Kiggundu popularly known as Ham donated a sum of Shs. 100 million to a representative of Kampala General Better Traders Association Rashid Nadduli at KCCA City Hall, to help the vendors reinstate their businesses.

According to Charles Baryomunsi, the Kampala General Better Traders Association General Manager, the turn up of vendors who are applying for loans was high.

“Over 200 vendors have applied to get the loan and we still expect more to apply,” he said.

While addressing the media at KCCA on Wednesday, Baryomunsi stressed that only Park Yard vendors would benefit.

 “We shall only give the money to vendors who were operating in the Nakivubo Park yard market, not all vendors on Ham shopping mall like some have been calming when applying for the money,” he said.

“We lend money from 100,000 shillings to 500,000 shillings and they must pay with interest of 10 percent and pay back in three months’ time.”

For any vendor to access the money, he said, they must come with two grantees to sign the form on their behalf.

KCCA Deputy Spokesperson Robert Kalumba says as KCCA, they have no hand in the lending process of the money  and that their only role is to only give guidance and oversee the whole processes.

The vendors in subject were earlier this year evicted from their shops to pave way for the re-development of the Nakivubo War Memorial stadium by Kiggundu.

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