Wednesday April 23 2014

Buganda turns to real estate to expand revenue base

Mr Mayiga (C) and other officials tour sections of Bulange Plaza

Mr Mayiga (C) and other officials tour sections of Bulange Plaza that has been lying idle since 1966. PHOTO BY JOSEPH KIGGUNDU. 

By Joseph Kiggundu

Kampala- Buganda has turned focus on real estate projects in a bid to expand the kingdom’s revenue base and sustainability of the its programmes.

The move comes after a successful fundraising for the reconstruction of the Kasubi Royal Tombs, that was razed in a fire in 2009.

The Katikkiro, Mr Charles Peter Mayiga, announced last week that subsequent donations to the kingdom would be used for the completion of Bulange plaza, which was being constructed by President Idi Amin's government before it was overthrown in the 70's.

Mr Mayiga said Kabaka, Ronald Mutebi had given the team that has been mobilising money for the reconstruction of Kasubi Royal Tombs a new mandate to manage the kingdom’s real estate trust fund.

“You cannot change the winning team, from today the new team will be called Buganda Twezimbe and all the subsequent donations will go to Buganda Plaza,” he said.

The new Buganda Twezimbe Committee is led by Mr Fred Kiyimba. Other members are Mr Julius Ssempala, Mr Gusta Lule and Mr Mubarak Ssenyonjo.

The Katikkiro said the Kabaka had delivered to the Royal Treasury Shs100 million donated by his friends from Europe.