Government to retain 100% shares in Nile hotel

Dec 02, 2003

SERENA Tourism Promotion Services SA, the sole bidder for Nile Hotel International Limited, will invest about US$30m into its redevelopment that will see it become a five-star hotel,

SERENA Tourism Promotion Services SA, the sole bidder for Nile Hotel International Limited, will invest about US$30m into its redevelopment that will see it become a five-star hotel, write Joyce Namutebi and Milton Olupot.

The state minister for privatisation, Prof. Peter Kasenene, told Parliament yesterday the idea of selling the Nile Hotel was out.
The Government plans to divest the hotel by way of concession where it would retain 100% shares, he said.

In the ensuing debate, the Minister of Health, Brig. Jim Muhwezi, nearly lost his cool with Aggrey Awori who was seated across. The exchange of words that lasted a few minutes started when Muhwezi cautioned Kasenene against delaying the divestiture of the Hotel.

“Delays have made the country lose quantities of money and national pride. This hotel at one time was a killing chamber. We can’t be derailed by the same people who were using it as a torture chamber,” Muhwezi said.

Awori and Muhwezi kept pointing fingers, each accusing the other of being a killer. Muhwezi later asked Awori to substantiate the allegations but the Deputy Speaker, Rebecca Kadaga ruled that Awori was not on record.

Parliament approved a motion by James Mwandha that Kasenene’s statement be committed to the committee on finance to scrutinise it.

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