The Ugandan government has agreed to buy shares in the Ndere Cultural Centre as part of a strategy to rescue the institution from a staggering debt that has ballooned from Shs 4.6 billion to Shs 10.8 billion.
This increase in debt has been largely attributed to the financial repercussions of the COVID-19 lockdown and accumulating interest charges from the Uganda Development Bank (UDB).
The decision to intervene was reached during a meeting on Tuesday at the Office of the Prime Minister, chaired by Deputy Prime Minister Rebecca Kadaga.
Notable attendees included Government Chief Whip Hamson Obua, Minister of State for Gender and Culture Peace Mutuuzo, and Ndere Centre’s founder Stephen Rwangyezi, along with Pastor Martin Ssempa, who has been spearheading a fundraising campaign to support the cultural hub.
Reports indicate that President Yoweri Museveni has been briefed on the dire financial situation of the Ndere Cultural Centre. He reportedly reached out to Rwangyezi to discuss potential solutions, reflecting the government's commitment to preserving this important cultural institution.
This move is seen as a critical step in safeguarding the future of the Ndere Cultural Centre, which plays a vital role in promoting Uganda's rich cultural heritage and providing a platform for local artists and performers. A
