Matooke Republic
Friday, July 11, 2025
  • Home
  • News
  • Entertainment
  • Gossip
  • Features
  • Business
  • Sports
  • Health
  • Photos
  • Relationships
Matooke Republic
  • Home
  • News
  • Entertainment
  • Gossip
  • Features
  • Business
  • Sports
  • Health
  • Photos
  • Relationships
No Result
View All Result
Matooke Republic
No Result
View All Result

Finance Minister Matia Kasaija falls out with tycoon Amina over failure to account for Shs3b

Norman Mwambazi by Norman Mwambazi
December 18, 2019
in News
Reading Time: 2 mins read
Share on FacebookShare on Twitter

The rising sugar prices prompted government to partner with local investors to set up a sugar factory in Atiak sub-county, Amuru district to fill the demand of sugar from the ever growing population of Uganda.

One of the investors is tycoon Amina Morghi Helsei to whom, through her holding company Horyal Investment Holdings Company Ltd (HIHC) government extended an advance of Shs3 billion.

The money was passed through the National Agriculture Advisory Services (NAADs) program to support her Amuru Sugar Factory.

RELATED POSTS

Supreme Court acquits landlord who had been serving a 10-year sentence for raping tenant’s maid in Kyebando

NUP to miss out on Shs7.5 billion each political party is supposed to receive from government — Here’s Why

Finance Minister ordered the Budget Monitoring and Accountability Unit to conduct an audit into the company to establish how the advanced funds are being used, a move that was blocked by Amina, and sought help from State House.

State House officials explained to Amina that an audit was bound to be done in her company since its operations are partly being funded by the government.

It is because of this that the businesswoman and the Finance Minister are not the best of friends at the moment.

It should be remembered that government owns a 40% stake in the sugar factor, but Aminah stays the majority shareh9older through her company Horyal Investment Holdings Company Ltd (HIHC).

Related

Tags: Amina HersiHon. Matia Kasaija
Share2Tweet1Send
Norman Mwambazi

Norman Mwambazi

Writing is my substitute for worry. Live. Love. Laugh. Be Good.

Related Posts

Finance minister Kasaija snubs COSASE, summoned

by Matooke Republic
3 years ago

...

NRM MPs want Finance Minister Kasaija censured over signing controversial coffee deal

by Matooke Republic
3 years ago

...

Minister Kasaija: The creation of new cities was political and the Treasury lacks funds to develop them

by Trevor Taremwa
4 years ago

...

Who is Dr. Kimbowa, the newly appointed Chairman of NSSF Board of Directors

by Matooke Republic
4 years ago

...

Minister Kasaija to private school owners: Sell your property and pay bank loans

by William Kasoba
4 years ago

...

Next Post
Jimmy Akena

UPC President Jimmy Akena says focusing on only the Presidency won’t cause change, “We can weaken NRM by having more candidates in Parliament”

Accident claims three on Masaka-Mbarara highway

RECOMMENDED

Isaiah Katumwa addressing members of the press.

Johnnie Walker Green Label to Celebrate Jazz Icon Isaiah Katumwa’s 30-Year Musical Journey

July 10, 2025

Pearl Tower One: Meera Investments unveils Kampala’s landmark Grade-A office building

July 10, 2025
  • 643 Followers
  • 23.9k Followers

MOST VIEWED

  • Here is how to use NIRA’s new online portal to register or renew your national ID

    3912 shares
    Share 1565 Tweet 978
  • DNA test confirms late MP Ssegirinya was father to only 4 of 9 children presented after his death

    96 shares
    Share 38 Tweet 24
  • Kampala University proprietor Prof Kateregga’s wife rejects DNA results indicating one of three children is not his, demands fresh test in the United States

    93 shares
    Share 37 Tweet 23
  • Properties owned by late billionaire Aponye at risk of auction over Shs15 billion loan arrears

    77 shares
    Share 31 Tweet 19
  • Pastor Bugingo’s daughter Doreen Gift awarded scholarship to Arizona State University in the US

    61 shares
    Share 24 Tweet 15
Matooke Republic

Uganda's only free Newspaper. Out every Thursday. Freshly peeled info. kiwatule, Kampala, Uganda.

  • Home
  • News
  • Entertainment
  • Gossip
  • Features
  • Business
  • Sports
  • Health
  • Photos

© Matooke Republic 2024

© Matooke Republic 2024

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.