Government to take over NHCC

Some of the houses built by the National Housing and Construction Company. Photo by Stephen Otage

What you need to know:

  • This, Mr Baryomunsi said, would be spearheaded by a Shs30 billion revolving fund.
  • Every October 1 is marked as World Habitat Day as set by the United Nations.

Kampala. The government has decided to take over total ownership of the National Housing and Construction Company to ensure adequate provision of low cost houses to public servants.
The revelation was made by Mr Chris Baryomunsi, the Minister of State for Housing while presenting a statement on the International Habitat Day in Parliament last week.
“In 1964, National Housing and Construction Company was fully owned but now 51 per cent is owned by Uganda and 49 per cent by Libya….we have taken a decision to acquire 100 per cent of shares,” Mr Baryomunsi said.
He said government intends to recapitalise the Housing Finance Bank to offer low interest loans to public servants to acquire mortgages.

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