On the final day of his PDM (Parish Development Model) zonal tours in Busoga, President Yoweri Museveni took a moment to address an audience of boda boda riders at Iganga District Headquarters.
Museveni called out the crippling effect of borrowing from money lenders and commercial banks, a practice he believes has kept many riders trapped in cycles of debt.
Highlighting the challenges faced by boda boda operators, the president pointed out that borrowing for daily survival was one of the primary reasons riders remained overwhelmed by loans.
The president urged the boda boda community to break free from this cycle by embracing savings and self-reliance.
He emphasized that financial discipline, coupled with support from government programs like the Parish Development Model, could help improve their livelihoods without the need for costly loans.
"Don't rely on loans that keep you in chains. Instead, focus on developing your business sustainably and seek alternatives that will not enslave you financially."
His remarks were a call for financial literacy and discipline, echoing his broader vision of an economically self-sustaining Uganda where citizens are not bound by debt but empowered by prudent financial choices.
