A section of legislators is concerned that hundreds of Ugandans are likely to lose their properties that were mortgaged to banks during this trying period of COVID-19 Pandemic.
The MPs led Kampala Central legislator Muhammad Nsereko, disclosed to journalists at Parliament that over 400 properties of people have been put on sale by banks as a result of defaulting on their payments.
They said some of the properties that commercial banks have put on sale include hotels, commercial buildings, schools, land, houses among others.
The legislators said it's disturbing to see banks confiscate people’s property worth billions of shillings during COVID-19 pandemic just because they have delayed to clear their debts.
They called upon government to intervene and halt the sale of the properties.
Some of the recent properties that have been put on sale by the banks include Ssimbamanyo building that houses the Ministry of Gender, Labour and Social Development, Afrique Hotel in Mutungo among others.
