Kaziimba asks Ugandans to help them pay off Church House loan
The Archbishop of the Church of Uganda, Dr Stephen Kaziimba Mugalu has asked Ugandans to contribute and help the church go pay off Church House building loan.
This website understands that the Church of Uganda is in crisis talks following reports that its multi-billion Church House building on Kampala Road is at risk of being auctioned over Shs. 48b unpaid debt.
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Speaking at a press conference on Tuesday, Archbishop Kaziimba said that the church will now start a fundraising campaign on Sunday, and urged Christian faithfuls and well wishers to contribute.
Church House
“I want at least one million of you (Ugandans), and if each of you can send me Shs 60,000 or even more, we can settle this debt,” Kaziimba said.
Kazimba said that the campaign will start on Sunday at the All Saints Cathedral.
“If we join hands, we can pay off the loan by end of July. More details will be shared.”
According to sources who spoke to New Vision, Equity Bank, which extended a sh41b loan ($10m and another sh5b) towards construction of the 16-storeyed building, is demanding about sh40b. The remaining sh8b is owed to other entities/individuals.
During the COVID-19 outbreak, according to sources, the Church asked Equity Bank for a one-year moratorium as they look for funds.
“But the one-year reprieve was not helpful because it appears the church has failed to clear the loan and the bank continued charging interest, which has pushed the loan higher,” explained the source to New Vision.
