Uganda Seeds sold

Sep 15, 2005

FARM Inputs Care Centre (FICA) takes over Uganda Seeds Masindi/Kisindi assets this week on a 30- year lease term, the Privatisation Unit announced recently.

By Peter Kaujju
FARM Inputs Care Centre (FICA) takes over Uganda Seeds Masindi/Kisindi assets this week on a 30- year lease term, the Privatisation Unit announced recently.

Privatisation minister, Prof Peter Kasenene, said during the agreement signing FICA was the only bidder.

He said after evaluation, the Divestiture and Reform Implementation Committee (DRIC) approved the bid.

“Competitive bidding method was used and in the case of Masindi/ Kisindi assets, only one bid was received from FICA.

“But following evaluation of the bid, DRIC approved that the assets be divested to FICA,” Kasenene said.

He said a lease fee of $350,000 was agreed upon.

Kasenene said FICA had already paid $175,000, while the balance would be paid next year with interest.

He promised government’s support in the smooth running of the entity.
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