Prime
Government halts NSSF project, gives site land to bank
Mr Matia Kasaija, to the Finance Minister
kAMPALA- Government has ordered National Social Security Fund (NSSF) to halt developments that it had earlier approved on Yusuf Lule Road after handing over the site land to African Export-Import Bank (Afreximbank).
A March 4, letter from the Minister of Finance, Mr Matia Kasaija, to the NSSF managing director, Mr Richard Byarugaba, which Daily Monitor has seen, indicates that government has identified the NSSF land as suitable for the Afreximbank project on which the latter wants to construct its headquarters.
“The government has identified the NSSF land situated on Yusuf Lule Road as suitable for the project and therefore, intends to compensate the Fund this Financial Year 2020/2021 for its value so that the same can be availed to the bank for the purpose,” Mr Kasaija’s letter reads in part.
On September 20 last year, the government signed a memorandum of understanding with the bank to avail them land to construct their East African region headquarters.
President Museveni witnessed the signing of the memorandum of understanding.
The land was to be obtained through a public procurement, but Mr Kasaija said they have failed to get it. Earlier, President Museveni had queried the funds that the Finance Ministry had injected in the Afreximbank project.
NSSF was planning to build structures at Yusuf Lule Road and the Finance Ministry had approved the project.
In 2015, Mr Byarugaba identified the development of Yusuf Lule Road plot as one of the issues he was to complete in five-years time.
“Please note that while I previously approved the NSSF development plan for the same land, I am constrained to rescind the earlier approval to allow the country harness this unique opportunity,” Mr Kasaija letter reads in part.
“The process failed to attract suitable land to match the iconic nature of the developments that the bank intends to set up, yet as you might note, hosting the bank headquarters is a unique opportunity and of significant economic and strategic value to the country,” Mr Kasaija said.
The spokesperson of the Finance ministry, Mr Jim Mugunga, said he was not privy to the minister’s letter and asked our reporter to contact Mr Byarugaba for a comment.
Mr Byarugaba yesterday confirmed receiving the minister’s letter. “We received the letter and responded to him. We asked for a meeting with the Finance ministry. We (management and board) haven’t decided anything,” Mr Byarugaba said.
