Twitter rant saves ex-workers boss Owere's car from moneylenders

Usher Wilson Owere's Toyota Harrier was listed for public auction on Thursday, with the former trade union chief crying foul in public space, X.

Trade unionist Usher Wilson Owere was on the brink of losing a vehicle to loan sharks on Friday and will thank X, formerly Twitter, for a drive-line.

Mr Owere, a former National Organisation of Trade Unions (NOTU) chairman general, was dismayed to see his black Toyota Harrier registration UBF 359F listed for sale by public auction under the Security Interest in Movable Properties Act 2019.

"Upon instructions from our client, a financial institution, we shall proceed to sell by public auction or private treaty the property motor vehicle unless the debtor pays all the monies owing, including principal, interest, plus our fees and disbursements before the date of sale," the advert placed in a national daily by Namara Twenda Advocates reads in part.

Mr Owere was given 20 days from the date of the advertisement to settle his debt.

The moneylenders Mr Owere had found himself wading in the treacherous loan shark waters against is Platinum Credit, a microfinance company licensed and regulated by the Uganda Microfinance Regulation Authority.

Platinum Credit has over the years gained notoriety for its ruthlessly in recovering loans from borrowers and despite all the noise about the facility, their growing portfolio suggests those desperate for quick cash continue to seek the purple patch.

Mr Owere appeared to have been one such and hit into a corner, he took to X and moaned of how he has a royal [sic] and one of the best customers for the last three years.

"Getting loan facilities using my logbook without defaulting but only four days of delays of payment [and] this is how Platinum has paid me back. [I] appeal to you to be careful, Platinum," he lamented.

This morning the management of @pcl_uganda customer care Manager Godfrey Wandera after lengthy discussions he apologised on their part what went wrong & requested to pull down the X mend our relationship since I have cleared loan ,the advert called off ihave forgiven them

— CHIEF LABOUR AFFAIRS, EXTERNAL LABOUR POWER HOUSE (@owere_usher) July 12, 2024

Mr Owere, who departed from the NOTU office in December 2023, later claimed at least 40 vehicles of clients have been impounded by Platinum Credit.

"This is abnormal, people are suffering quietly. This calls for urgent government investigation [to] scrutinise this Platinum Credit," he said.

The Nile Post could not independently verify the claims vehicles taken over by the moneylenders.

However, Mr Owere later pulled down his rants and announced that an amicable solution had been found.

He told this publication that the issue had been resolved.

"Those people have apologised to me because I paid their money," Owere said. "I think there was miscommunication among themselves."

He did not reveal the amount of loan he had taken with the moneylenders but after pulling down his moans, he posted on X that their issues had been resolved.

"This morning, Platinum Credit customer care manager Godfrey Wandera, after lengthy discussions, apologised on their part what went wrong and requested to pull down the [post] and mend our relationship since I have cleared [the] loan," he said.

"The advert [has been] called off, I have forgiven them."

The Ugandan economy has seen a proliferation of moneylenders, with several loan sharks offering quick cash for which they demand assets such as land title, property deeds and vehicle logbooks as collateral.

The challenge is that for many, once the loans are taken, the repayment becomes a tough ask with some forced into revolving loan of clearing one and taking another to cover recurring financial needs.

It is when they default that the loan sharks use the collateral to their own good.