Prime
CoU appeals for Shs60b to salvage Church house
The Church House building in Kampala. PHOTO/FILE
What you need to know:
- The Church hit a snag with the way it negotiated for the loan from Equity Bank because its maturity time, came before the structure was complete.
The Anglican Church yesterday launched a two months campaign to raise Shs60 billion to pay off loans from Equity Bank and other sources to construct the Church house.
While launching the campaign yesterday, Archbishop Samuel Stephen Kaziimba said the campaign is meant to fulfil the vision started by the late Archbishop Janani Luwum in 1977 to have a building which will generate income for the Church.
“People claim they contributed but what they contributed was not enough to build the house from down up to where it is today. What people contributed was very little. Even some dioceses did not contribute,” he said.
Asked what happened to all the money which has been collected over the years towards constructing the same building, he explained that when late Archbishop Livingstone Nkoyoyo started fundraising for the house, he raised Shs771m before retiring but the amount could not kick-start the construction works.
He added that when Archbishop Luke Orombi took over office, he realised that offertory alone could not raise the building so the provincial assembly allowed the Church to borrow $11.3m (about Shs40b) from Equity Bank and they also sold some shares to different dioceses as a fundraising strategy.
Asked to break down the total amount of money which has been collected so far and how much was needed to put up the house, provincial head of laity John Wilson Tereraho, said the Late Nkoyoyo raised Shs771m, said Archbishop Orombi raised Shs10.7b from shares from different dioceses and President Museveni contributed Shs300m before hosting a fundraising dinner, which fetched Shs600m bringing the total to Shs12 billion.
He said the Church hit a snag with the way it negotiated for the loan from Equity Bank because its maturity time, came before the structure was complete meaning they had to start repaying the loan.
