A screenshot of the Quick Loan app logo on a mobile phone screen, one of the 59 unauthorized online lending applications listed by the Uganda Microfinance Regulatory Authority (UMRA).
KAMPALA, UGANDA – In a bold move to protect consumers and regulate the microfinance sector, the Uganda Microfinance Regulatory Authority (UMRA) has published a list of 59 illegal online lending applications operating in the country.
The list, released on [date], names and shames unauthorized lenders who have been violating the Tier 4 Microfinance Institutions and Money Lenders Act, 2016, and the Tier 4 Microfinance and Digital Lending Guidelines, 2024.
According to UMRA, these illegal online lenders have been employing mobile applications and social media platforms to lure unsuspecting borrowers into their clutches, often with exorbitant interest rates and abusive loan conditions.
The full list of illegal online lending apps includes:
1. Flypesa
2. Banana App
3. Loango
4. Nile
5. Gloan App
6. Cashflow
7. Moji
8. Ozzy Money
9. Mumu Money
10. More Pesa Quick Loan
11. Easy Mobile Loan
12. SweetLoan-Loan App
13. Cash Lender-Mobile
14. CashPe-Easy Loan
15. Rapid Mobile Loans
16. Quick Cash Loans
17. Credit Sente Loans
18. My Loan
19. Real Cash
20. Wind Money
21. Echo Loan
22. GetLoan-Online Fast Loan
23. Smart Quick Cash Credit
24. Cash4 You Mobile
25. Fair Loans Loans
26. Muno
27. Boom Loan
28. Kasquick
29. Mpacash
30. Cashpulse
31. Get Cash
32. Banana Credit
33. Omega Loans
34. Star Loan
35. Credit Lab
36. QuickLoan: Reliable Online Loan
37. Flowerloan
38. Wind-Money
39. CashPulse
40. Borrow Money-Get Online
41. Loan Cash-Easy Instant Loans
42. Little Cash-Mobile Loans
43. Unity Loans
44. Lever Credit
45. KashBus
46. Happy Credit-Quick Loans
47. Cashmate
48. YeLoan
49. CashPe-Instant Loan
50. Ezee Loan
51. Sunlit
52. SenteHub
53. CashGo Mobile Loans
54. CreditLab
55. Faircash
56. CashNow
57. Azima Instant Loan
58. Mobi Loan
59. More Pesa Quick Loan
UMRA has warned that these entities are not only operating illegally but also violating consumer protection requirements and abusing consumer data privacy.
The regulatory body has encouraged anyone with information about non-compliant lenders to report them through their toll-free lines, email, or website.
