Loans Spoiling Kenyan's Marriages

According to an article from the Daily Nation, though nowadays its easier for people to access credit facilities from financial institutions as compared to the past, easy access to loans has brought about consequences of marital strife previously unforeseen.

People now are taking up a loans attaching family property as security without informing their spouses. This is creating marriage problems when they become unable to service the loans forcing financial institutions to possess property attached as collateral in order to recover their money.



Some people have also been forging their spouses signatures & using their identification cards naming them as guarantors of loans only for them to be discovered when they are unable to repay the loans.

There has also been instances of married couples taking up joint loans for family projects, where both agree to share the responsibility of repaying the loan only for one of them to redirect the funds towards other selfish interests leaving the other paying for a loan which was not used for its intended purpose creating disagreements.


However, to stem cases of people forging signatures of their spouses naming them as loan guarantors, financial institutions now require both spouses to present themselves in person to sign the loan application forms.

Could This Be Signs Of Bankruptcy For Ugandan Tycoon Ezra Mulyoowa?

This according to a story I read on The Standard Newspaper & decided to do a post about it.

Recently the Makadara law courts issued a warrant of arrest seeking Interpols help to arrest Ugandan businessman Mr. Michael Ezra Mulyoowa. This was after he failed to honor court summons over allegations of fraud.

Apparently Mr. Mulyoowa who is considered as Uganda's richest man is charged with issuing a $ 200,000 cheque to SMR Limited knowing that his bank account had insufficient funds. He has also been arrested before by the C.I.D for questioning over allegations that he had defrauded a doctor medical equipment worth millions.

Mr. Mulyoowa by the way caused a stir in 2004 when he expressed interest in buying the European foot ball club Leeds United. According to a Ugandan media report in 2008, he had ordered a private jet worth $ 260 million due to be delivered this year.

Mr. Mulyoowa is also famous for his generous big cash donations. In 2006 he bought a unique Montblanc watch at $ 250,000 in a promotion by Emirates Airlines Foundation to help underprivileged children. In the same year, he gave K,shs 60 million to secure air tickets for Ugandan soccer players & several officials after the Ugandan football governing bodies were unable to raise funds to transport the national team to play in Niger.



Am thinking that he should appear on Forbes magazine as one of Africa's richest men but, could the fact that he issued a cheque which bounced & defrauded the doctor be signs that the tycoon is facing financial woes or he's just playing mind games?