Business
Relocate to Namanve, MPs tell Investment Authority
Publish Date: May 08, 2014
Relocate to Namanve, MPs tell Investment Authority
Former home of Uganda Investment Authority
  • mail
  • img
newvision

By Joyce Namutebi

“HOMELESS” after selling their property in Kampala City, Members of Parliament are now telling Uganda Investment Authority (UIA) to relocate to Namanve along Jinja road, instead of renting.

In a meeting with UIA officials at Parliament on Wednesday, MPs questioned why the authority sold their building along Kampala Road and then decided to rent in another part of the city.

“You should account for the money you got from the sale of that building,” Nandala Mafabi told the UIA officials. Present was state minister for investment, Gabriel Ajedra. “Why don’t you shift staff to Namanve other than continuing to rent?” Nandala asked.

Currently UIA is renting on Twed Plaza, Lumumba Avenue, Kampala.

The UIA team had appeared to defend their budget for the coming financial year.

The MPs also demanded to know what happened to the US$72m that was given to UIA to develop Namanve as an industrial park.

Without a board in place to superintend the organisation, the MPs wondered how they were going to appropriate money for it.

They were equally concerned by the delay to put in place a one stop centre to ease processes for investors.

Responding to queries raised, Ajedra explained that the former UIA office was situated on a very busy street. “The location was inappropriate. The board took a decision to sell interest at Sh1.8b.”

The money, he said was deposited with bank of Uganda until the Board decided to acquire another property at Kololo. Ajedra, however, informed the MPs that he had objected to management about the Kololo site, which is situated in a residential area.

He did not disclose how much they are now paying in rent.

On relocating to the UIA property in Namanve, the minister cited heavy traffic as the excuse for not being ideal, but MPs reminded him of the accessibility of the Northern bypass which is used by commuters to and from the eastern part of the country, and also the alternative route of old Jinja road.

On concerns by MPs that Namanve land had been allocated to people who had no capacity to develop it, Ajedra explained that they had now developed a comprehensive allocation criteria requiring investors who wish to move there to have a comprehensive business plan and banks to certify that the plan is viable. Investors, he said, should also have architectural drawings and if allocated land one should be able to develop it within 18 month and if not it reverts to UIA without appeal.

He revealed that Cabinet had approved proposal on the one stop centre and that the President has directed Ministry of finance to release sh1.6b to NITA-U to install soft ware and hard ware for all the relevant agencies to get online.

UIA director, Lawrence Byensi, who represented the executive director, Frank Sebowa, explained that out of the US$72m that was coming from World Bank, the authority only had US$25m and by the time the Bank withdrew support, they had utilized only US$7m.

He said World Bank withdrew funding saying the industrial park was situated in an area considered to be a wetland.

Byensi appealed for increase of the development budget for industrial parks to Sh9.7b from sh2.69b.

RELATED ARTICLES

Canadians to develop Namanve Industrial Park

UIA needs sh470b to expedite Namanve Industrial Park

Museveni orders probe into Namanve encroachment

UIA needs sh460b for Namanve


 
 

The statements, comments, or opinions expressed through the use of New Vision Online are those of their respective authors, who are solely responsible for them, and do not necessarily represent the views held by the staff and management of New Vision Online.

New Vision Online reserves the right to moderate, publish or delete a post without warning or consultation with the author.Find out why we moderate comments. For any questions please contact digital@newvision.co.ug

  • mail
  • img
blog comments powered by Disqus
Also In This Section
More oil resources found in Albert region
The Petroleum Exploration and Production Department has said that the oil resource confirmed is now 6.5 billion barrels from the fields studied....
Chinese firm CHEC given $8bn railway deal
The Government has finally given away the giant and lucrative deal to upgrade and expand Uganda’s railway network to standard gauge to a Chinese firm....
Tourism industry goes professional
IN a bid to make Uganda a preferred destination for tourists, the Ministry of Tourism is in advanced stages of professionalizing the chain of service...
Providers to pay PPDA fees online
COMPANIES that register with PPDA are all listed in the RoP. Hitherto, providers were paying fees exclusively through commercial banks...
MTN, Centenary Bank partner on mobile money ATM cash out service
MTN Uganda the leading Mobile Money network has partnered with Centenary Bank Uganda to advance their ATM Cash out footprint by allowing customers to cash out at all Centenary bank ATMs across the country....
IMF chief charged with
IMF chief Christine Lagarde, one of the world''s most powerful women, announced Wednesday she had been charged with "negligence" over a multi-million-euro graft case...
Do you think the National Census positively contributes to improved Livelihood in Uganda?
Yes
No
Can't Say
follow us
subscribe to our news letter