Gov’t Takes Over Busoga University After Institution Fails To Pay Shs15Bn Loan

Gov’t Takes Over Busoga University After Institution Fails To Pay Shs15Bn Loan

By Ivan Mwine

The government of Uganda has resolved to take over Busoga University after the institution failed to service a loan worth over Shs15Bn which it acquired from top commercial banks in Uganda.

The resolution  was communicated Sunday July 18, 2021, by President Yoweri Kaguta Museveni following a meeting he held with stakeholders of the University at State House, Entebbe, on Saturday.

Shortly after the said meeting,  President Museveni tweeted;

“After a series of meetings, the government has agreed to take over Busoga University as a public institution with its Shs15b loan. We shall pay the loan when we know what the money was used for and If this money was spent on public efforts.”

President Yoweri Museveni addresses the Committee that will take over Busoga University, next to him is First Lady Janet Kataha Museveni

The meeting which was held under  strict observance of SOPs was attended by a committee that will oversee the takeover which includes; the First Lady and Minister for Education Janet Kataha Museveni, former Speaker of Parliament and Minister for East African Affairs Rt. Hon. Rebecca Kadaga, Dr. John Chrysostom Muyingo, the Minister of State for Higher Education, His Grace Bishop Samuel Stephen Kaziimba Mugalu, several Bishops, among other stakeholders.

According to their website, Busoga University (BU), is a private university in Uganda, affiliated with Central Busoga Diocese of the Church of Uganda.

Busoga University was founded in 1999, following the issuance of a tertiary institutional license by the Ministry of Education and Sports. The university is a non-profit organization.

On 23 February 1993, Busoga College Mwiri’s Board of Governors, under the leadership of Bishop Cyprian K. Bamwoze, passed a resolution to establish a university on the same hill and requested Busoga Diocesan Council and the House of Bishops to become the foundation body of the anticipated university.

On 19 November 1994, a University Formation Task Force (UFTF) was appointed “to map out the process of establishing BU” and on 21 April 1995, it presented its report to the Bishop.

On 6 May 1995, the Bishop inaugurated BU in the presence of His Royal Highness the Kyabazinga of Busoga, Henry Wako Muloki (RIP).

Soon after, Busoga Diocese surrendered its Iganga land and buildings of Bishop Hannington Theological College to BU, and on 30 July, BU received its interim license.

On 12 February 1999, BU opened its gates to students.

In 2017, its provisional license was revoked by the Uganda National Council for Higher Education, but it was given permission to reapply after two years.

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