President Yoweri Museveni has promised to support the Church of Uganda to clear the loan it acquired to complete the 16 storied Church House, one of the Church’s biggest investments.
The Anglican Church was reported to be on the brink of losing the building located on Kampala Road due to a loan.
The Church borrowed up to Shs 38Billion from Equity Bank and another Shs 5Billion to complete the magnificent building, but has since failed to pay the loan.
The loan, New Vision reported today, has since accumulated Shs 2.6Billion in interest.
The bank in a February 9th letter to the Church, threatened to auction the building to recover the money.
But President Yoweri Museveni, while speaking at the Martyrs Day Celebration at the Anglican Martyrs Shine at Namugongo, said he would not stand and watch the bank take away the project, which the church sacrificed a lot including selling chunks of its land to put up.
“I saw in the papers today that you are panicking over the issue of the Church House; that they want to take it away from you because of a debt,” said the President.
“I said, no; that will not be possible. As long a God still keeps me here, through you.”
“We started on that work with Archbishop (Luke) Orombi, and now for traders to come and take away our house at the very end, that cannot happen.” Museveni said.
Equity Bank, in the February 9th letter, had given the Church of Uganda only three weeks to pay, or the house would be advertised.
The church however negotiated with the bank for more time to find the money.