The government has initiated the process of acquiring shares worth Shs4.6 billion in the Ndere Cultural Centre to help alleviate its financial difficulties stemming from loans.
This decision follows a bailout meeting held on Tuesday at the Office of the Prime Minister. The meeting, convened by Pastor Martin Ssempa, senior pastor of Makerere Community Church, included several government ministers, such as Minister of East African Affairs Rebecca Kadaga, Finance Minister Matia Kasaija, and Government Chief Whip Hamson Obua.
On Wednesday, Minister for ICT and National Guidance Dr. Chris Baryomunsi announced that President has directed the Ministry of Finance to begin the process of supporting Ndere Cultural Centre. “The president has instructed the Ministry of Finance to explore ways to assist Ndere Centre,” he stated.
In 2019, Ndere Troupe Limited took out a Shs6.8 billion loan from the Uganda Development Bank to diversify and expand its operations. The centre is vital for the preservation and promotion of Uganda’s rich cultural heritage.
Recently, Ndere’s proprietor, Stephen Rwangyezi, cited the adverse impacts of the COVID-19 pandemic and associated lockdowns as significant factors affecting the centre’s finances, prompting his request for government assistance.
