{"id":25549,"date":"2022-02-01T21:04:42","date_gmt":"2022-02-01T21:04:42","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/?p=25549"},"modified":"2022-02-01T20:53:55","modified_gmt":"2022-02-01T20:53:55","slug":"namutumba-locals-to-deposit-newly-acquired-titles-in-banks-for-loans","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/namutumba-locals-to-deposit-newly-acquired-titles-in-banks-for-loans","title":{"rendered":"Namutumba locals to deposit newly-acquired titles in banks for loans"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>Residents of Namutumba District, who acquired customary land titles from government, are excited to use them as security to access school fees and loans from banks.<\/p>\n

At least 5,000 residents last week received free customary land titles from government as a way of reducing land grabbing and wrangles.<\/p>\n

\u201cI am going to use my land title as security to get a loan from Microfinance Support Centre and start a hardware shop in Busembatia Town Council,\u201d Waiswa Kirya, 76, a resident of Kibale Sub-county, said at the weekend.<\/p>\n

He added: \u201cMy dream [to own a hardware shop] has now come true because I have a land title as capital and very soon, I am going to reach out to bank managers for a loan.\u201d<\/p>\n

Mr Joseph Magola, a resident of Nabweyo Sub-county, said he would get a loan of Shs6m to start a mobile money shop in Kibale Trading Centre.<\/p>\n

\u201cI worked for a mobile money outlet and I know how much is earned per month. I will use profits from the mobile money business to repay the loan.\u201d<\/p>\n

Ms Loy Nangobi, a widow from Mpande Sub-county, said she would get a loan to further her daughter\u2019s education. \u201cBy now, my daughter would have completed her degree in Business Administration but she is sitting at home. My initial plan was to sell part of the land, but I am happy that within a few months, I am going to process a school fees loan using my [land] title as security,\u201d she said.<\/p>\n

Lands ministry says<\/b><\/p>\n

Mr Denis Obbo, the Ministry of Lands spokesperson, however, warned that titles are not collateral for loans but for securing one\u2019s ownership rights and reducing land disputes.<\/p>\n

\u201cMuch as they can be used as collateral in banks, the government wants people to have security of ownership which in turn will stimulate increased, productive use of the land,\u201d he said.<\/p>\n

He advised the beneficiaries to always comply with the conditions, restrictions and limitations set by the government, including remembering to update their certificates at the sub-county in case of any change.<\/p>\n

The State Minister for Lands, Ms Persis Namuganza, advised beneficiaries to guard their titles against land grabbers and not rush for bank loans.<\/p>\n

\u201cHaving a land title does not guarantee you multiple loans from moneylenders, but for security ownership,\u201d she said.<\/p>\n

The Namutumba Resident District Commissioner (RDC), Mr Thomas Matende, said: \u201cI am afraid the beneficiaries are going to lose their land over failure to repay loans. We know you can get loans but do not get multiple loans which will make you lose land to the bank.\u201d<\/p>\n

For More News And Analysis About Uganda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Uganda. Residents of Namutumba District, who acquired customary land titles from government, are excited to use them as security to access school fees and loans from banks. At least 5,000 residents last week received free customary land titles from government as a way of reducing land grabbing and wrangles. \u201cI am going to […]<\/p>\n","protected":false},"author":84,"featured_media":25548,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[233,240,234],"class_list":["post-25549","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"\nNamutumba locals to deposit newly-acquired titles in banks for loans - Uganda<\/title>\n<meta name=\"description\" content=\"Residents of Namutumba District, who acquired customary land titles from government, are excited to use them as security ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/uganda\/all-news\/namutumba-locals-to-deposit-newly-acquired-titles-in-banks-for-loans\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Namutumba locals to deposit newly-acquired titles in banks for loans\" \/>\n<meta property=\"og:description\" content=\"Residents of Namutumba District, who acquired customary land titles from government, are excited to use them as security ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/namutumba-locals-to-deposit-newly-acquired-titles-in-banks-for-loans\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-01T21:04:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/02\/img-61f99dc92ce4c.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/namutumba-locals-to-deposit-newly-acquired-titles-in-banks-for-loans#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/namutumba-locals-to-deposit-newly-acquired-titles-in-banks-for-loans\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Namutumba locals to deposit newly-acquired titles in banks for loans\",\"datePublished\":\"2022-02-01T21:04:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/namutumba-locals-to-deposit-newly-acquired-titles-in-banks-for-loans\"},\"wordCount\":455,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/namutumba-locals-to-deposit-newly-acquired-titles-in-banks-for-loans#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/02\/img-61f99dc92ce4c.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/namutumba-locals-to-deposit-newly-acquired-titles-in-banks-for-loans#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/namutumba-locals-to-deposit-newly-acquired-titles-in-banks-for-loans\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/namutumba-locals-to-deposit-newly-acquired-titles-in-banks-for-loans\",\"name\":\"Namutumba locals to deposit newly-acquired titles in banks for loans - 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