Vendors insist on developing market
Jul 21, 2007
NAKASERO Market vendors have vowed to continue with their registration exercise and have the market developed into a modern complex. This follows reports that Hassan Basajjabalala’s company, Sheila Investments, paid sh1.2b to Kampala City Council for the lease of the market, days after President Y
By Florence Nakaayi
and Carol Natukunda
NAKASERO Market vendors have vowed to continue with their registration exercise and have the market developed into a modern complex.
This follows reports that Hassan Basajjabalala’s company, Sheila Investments, paid sh1.2b to Kampala City Council for the lease of the market, five days after President Yoweri Museveni gave the vendors the go ahead to redevelop the market themselves.
According to the lease, Basajjabalaba would own 70% shares of the project, while the vendors would own 30%.
However, the vendors’ chairman, Godfrey Kakooza, yesterday said: “We are not bothered by Basajja’s payment. I think this will not help him.
“What came first; is it the payment or the President’s directive? The President’s directive should take priority because it was given much earlier.â€
He said registration was still going on and they are determined to develop the market by themselves.
“We have over 20,000 vendors. We submitted our plan to KCC to build a 10floor complex at a cost of sh16b. If every vendor could raise sh2m, this would be enough to help us develop our market,†Kakooza added.
By press time, Basajja’s lawyer Julius Turinawe could not be reached for a comment.
The bank documents seen by The New Vision on Thursday indicated that Sheila Investment transferred the lease money from Orient Bank to the KCC account in Stanbic Bank.
In the meeting with the vendors’ representatives last week, Museveni said the sitting tenants should be given priority to develop their market, overturning an earlier decision by KCC which had leased the market to Basajjabalaba.
KCC spokesman Simon Muhumuza said they had not yet received official communication from the President about the market.
and Carol Natukunda
NAKASERO Market vendors have vowed to continue with their registration exercise and have the market developed into a modern complex.
This follows reports that Hassan Basajjabalala’s company, Sheila Investments, paid sh1.2b to Kampala City Council for the lease of the market, five days after President Yoweri Museveni gave the vendors the go ahead to redevelop the market themselves.
According to the lease, Basajjabalaba would own 70% shares of the project, while the vendors would own 30%.
However, the vendors’ chairman, Godfrey Kakooza, yesterday said: “We are not bothered by Basajja’s payment. I think this will not help him.
“What came first; is it the payment or the President’s directive? The President’s directive should take priority because it was given much earlier.â€
He said registration was still going on and they are determined to develop the market by themselves.
“We have over 20,000 vendors. We submitted our plan to KCC to build a 10floor complex at a cost of sh16b. If every vendor could raise sh2m, this would be enough to help us develop our market,†Kakooza added.
By press time, Basajja’s lawyer Julius Turinawe could not be reached for a comment.
The bank documents seen by The New Vision on Thursday indicated that Sheila Investment transferred the lease money from Orient Bank to the KCC account in Stanbic Bank.
In the meeting with the vendors’ representatives last week, Museveni said the sitting tenants should be given priority to develop their market, overturning an earlier decision by KCC which had leased the market to Basajjabalaba.
KCC spokesman Simon Muhumuza said they had not yet received official communication from the President about the market.