FUFA’s Mengo house up for mortgage
Dec 29, 2003
THE differences, which had been brought about by FUFA’s borrowing from individuals, look set to come to an end if the process of mortgaging the FUFA House in Mengo (left) is a success
THE differences, which had been brought about by FUFA’s borrowing from individuals, look set to come to an end if the process of mortgaging the FUFA House in Mengo (left) is a success, writes Norman Katende.
For the past, FUFA has been borrowing from individuals, most especially Express’ Godfrey Kirumira and Villa’s Omar Mandela, a decision that made many to believe that it would compromise the federation towards the two clubs.
“Borrowing from individuals helped us go through hard times but it also caused us trouble. We no longer want to deal with individuals because of the clubs politics involved,†FUFA president Denis Obua told the general assembly, Sunday.
When contacted for clarification, FUFA’s assistant treasurer Ahmed Wadrif said that they had already applied to their bankers, Stanbic for overdraft services.
“We want the bank to offer us credit services which will be serviced by the FIFA grants and other incomes,†he explained.
Wadrif said that the FUFA House is valued at sh700m.
“The land title and all other documents are with the bankers,†he said.
For the past, FUFA has been borrowing from individuals, most especially Express’ Godfrey Kirumira and Villa’s Omar Mandela, a decision that made many to believe that it would compromise the federation towards the two clubs.
“Borrowing from individuals helped us go through hard times but it also caused us trouble. We no longer want to deal with individuals because of the clubs politics involved,†FUFA president Denis Obua told the general assembly, Sunday.
When contacted for clarification, FUFA’s assistant treasurer Ahmed Wadrif said that they had already applied to their bankers, Stanbic for overdraft services.
“We want the bank to offer us credit services which will be serviced by the FIFA grants and other incomes,†he explained.
Wadrif said that the FUFA House is valued at sh700m.
“The land title and all other documents are with the bankers,†he said.