Hussein Ahmed borrowed Shs 31 million from Platinum Credit and lost his Land Cruiser

Our Reporter17 hours ago17 hours ago04 mins

On March 3, 2021, Hussein Ahmed approached Platinum Credit Uganda for a loan of Shs 31.4 million at an interest rate of 4% per month. As security, he handed over the logbooks for two vehicles: a Toyota Land Cruiser registration number UAW 911K valued at Shs25 million, and a Toyota Alphard registration number UBE 217M…

Platinum Credit sold the car of a borrower who had cleared his loan. It’s been ordered to pay him Shs 25 million

Our Reporter3 months ago3 months ago24 mins

Platinum Credit Uganda, a prominent microfinance institution, has been ordered to compensate Fred Wafula, a borrower, Shs 25 million after it wrongfully impounded and sold his car, yet he had cleared his loan. The ruling by Justice Bernard Namanya overturned the earlier decision of the Chief Magistrate’s Court, which had dismissed Wafula’s case for supposedly…