The Church of Uganda has completed the repayment of a Shs65 billion loan it acquired from Equity Bank for the construction of the Janani Luwum Church House in Kampala.
Archbishop Stephen Kazimba Mugalu celebrated that the structure is now fully owned by the Church after the final payment of Shs9 billion. Kazimba made this announcement during the commemoration of Martyrs’ Day at the Namugongo Anglican site, which is being elevated from a parish to an Archdeaconry.
“I want to announce here that the Church House is now fully owned by the Church of Uganda. Thank you, Equity Bank, for supporting us,” said Archbishop Kazimba.
Equity Bank supported the Church of Uganda by providing a mortgage covering 70 percent of the construction costs for Janani Luwum Church House, with the Church contributing the remaining 30 percent. The Church borrowed $17 million (about Shs65 billion) from Equity Bank for the project, which became fully operational in 2015.
Equity Bank Executive Director Elizabeth Mwerinde Kasedde, who was presented with the Shs9 billion cheque, expressed gratitude for the Church’s support and affirmed the bank’s commitment to working with the Church at all levels.
“This was a dream that the Church had cherished for close to 50 years. I am glad that Equity Bank took the bold step to support the Church in realizing this dream,” said Mwerinde.
Mwerinde invited other dioceses to adopt Equity Bank’s development model to improve their followers’ livelihoods. She emphasized the bank’s mission to empower communities economically and socially through financial services, helping individual Christians achieve their personal dreams.
“If we can realize a dream of $17 million (Shs65 billion) together, why can’t we help our followers and our members in our parishes also realize their dreams? Equity Bank is here to help the Church give dignity to its followers through extending financial services that economically and socially empower communities,” explained Mwerinde.
The Janani Luwum Church House project, originally planned in 1966, was only realized through the partnership with Equity Bank in 2015, contributing to the Church’s mission and clergy pensions.
Last month, Equity Bank donated Shs30 million for the Martyrs’ Day celebrations and sponsored the inaugural national Uganda Martyrs Choir competition.
