Kampala, Uganda – Minister of State for Finance, Henry Musasizi, has provided clarity on the controversial Shs300 billion allocation, debunking claims that the entire amount was diverted to bail out Roko Construction Company.
In a social media post, Musasizi explained that only Shs56.2 billion of the total amount was approved by Parliament for Roko Construction’s preference shares. The remaining Shs200 billion is earmarked for Bank of Uganda to manage government entities’ accounts and pay government securities, totaling Shs72 trillion in budget payments.
The Minister’s clarification comes after widespread criticism and misinformation surrounding the allocation of funds initially intended for the procurement of ambulances. Musasizi’s breakdown of the Shs300 billion allocation is as follows:
- Roko Construction preference shares: Shs56.2 billion
- Bank of Uganda charges: Shs200 billion
This development sheds light on the government’s financial management and budget allocation, providing transparency and context to the initial decision.
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