Church of Uganda still in a sh60bn bank loan debt meant for Church House
By Drone Reporter
The Archbishop of Church of Uganda, Dr Stephen Kaziimba Mugalu has called on all Ugandans to raise money to clear the sh60bn bank loan debt.
Kaziimba made the revelation on Sunday during a virtual media engagement with Ugandans via the SheilaDigiTalks forum moderated by former journalist, Sheila Nduhukire.
Church House is a 16-floor commercial office building located on Plot 34 on Kampala Road.
The Church of Uganda is currently mobilizing funds to repay the loan from Equity Bank used to construct the building.
The concept for Church House as a commercial real estate enterprise began in 1960’s, and as such, the fundraising for went to the grassroots of the church, including every primary and secondary school student making contributions.
However, there seems to be conflicting information. In June this year, the public was informed that part of the money needed for the bank loan debt was 48 Billion Shillings for the Church House building located along Kampala road, but in this latest bulletin the figures have changed.Anyway, Equity Bank extended 41 billion Shillings to the Church of Uganda towards the construction of the 16 storied building and currently demands 40 Billion Shillings. The 8 Billion Shillings is owed to different individuals and entities.
Speaking at the Martyrs day celebrations at the Nakiyaa Shrine, Archbishop Kaziimba said the fundraising drive under the theme “Yes, We Can!” that was officially launched on Sunday 6th June at All Saints’ Cathedral, Kampala and a specific “Love Gift” bank account was opened.
He said that completing the debt would help the Church in its self-governance drive. Kaziimba however dismissed reports that the Church House building was being auctioned.
This project has taken over 60 years; it started in 1960s and it necessitated even school-children to contribute off their pocket money. Surprisingly, up to date the project has not moved an inch!