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September 23, 2008 at 5:20 pm #19112
MBABAZI WEALTH SHOCKS MPS
The wealth of the embattled Security Minister, John Patrick Amama Mbabazi has shocked Members of Parliament (MPs) and will definitely alarm Ugandans after it emerged last night that the man is filthy rich.
We have learnt the Shs11bn land which the super minister sold to NSSF is a tip of an iceberg in as far as his riches are concerned.
Shocking details about Mbabazi’s riches availed to us by Members of Parliament indicate the minister to be owning shares in big companies; ranging from telecom corporations to banks.
Mbabazi, the once revolutionary Mr. Clean is entangled in a scandal over the Shs11bn land he sold to the pension fund that MPs claim was inflated and that he wielded his political power to coerce NSSF into buying from him.
They also claim that NSSF managers abused procurement laws and that they were politically influenced to offer the powerful security minister the deal.
However, Mbabazi insists that he is innocent and that it was a clear case of willing buyer and willing seller.
Mbabazi blames the consequences from the deal, which Parliament is investigating on political enemies.
Since the Temangalo land saga, the media has been awash with reports about the minister but no media house has ever taken the courtesy of revealing the riches of the man who will go down the memory lane as the first Ugandan to reap such amount of money from a piece of land.
Reports reaching us from Parliament reveal that Mbabazi is said to be a shareholder in Hits Telecom, a mobile telecommunications company that is yet to launch its operations in Uganda.
MPs told us last night that Mbabazi acquired shares in Hits Telecom in March 2007 after helping the company secure an operation license in Uganda.
According to the MPs, before Hits Telecom bosses secured the operational license, they first approached a vocal and Munyankole minister for guidance.
The minister is said to have told the bosses that to invest in Uganda, they need not less than U$50M roughly Shs80bn which they did not have.
They also suspected the minister wanted to diddle them like other investors who have fallen prey to ministers. The unconvinced Hits Telecom bosses decided to go for another option or Plan B; Amama Mbabazi.
Mbabazi is said to have assisted them till they secured the license on March 12, 2007.
As a reward for the good work he had done, Hits Telecom is said to have incorporated him (Mbabazi) as a local investor with a 12% shareholding.
The telecom has since been acquired by a leading French telecommunications company, Orange Group.
As we write this, according to our sources, representatives of Orange Group are already in the country studying the market and acclimatizing with Uganda.
After acquiring a 51% stake in Telkom Kenya, the Orange Group launched its mobile business under its Orange brand in Kenya over the weekend and it is soon launching in Uganda.
NATIONAL BANK OF COMMERCE (NBC)
John Patrick Amama Mbabazi is now the leading shareholder in National Bank of Commerce after investing in Shs11bn he got from his Temangalo land which he sold to NSSF.
Mbabazi used the money to buy the entire shares held by the Gidoomal family, who have been the majority shareholder.
According to Mbabazi, NBC is doing well. The bank recorded the highest percentage increase in earnings in 2007 after its profit after tax went up from Shs176.5 million to Shs591.6 million-a more than 300% jump.
With only two branches; one on Parliamentary Avenue and another in Kabale town, the bank is able to record a lot of profitsand must be doing well.
According to NBC books of accounts for 2007, the bank increased its loans and advances from Shs2.7 billion in 2006 to Shs2.9 billion in 2007.
The NBC’s shareholders’ equity, which is the money that shareholders have invested in the bank and any other money that might have accrued from its investments, stood unchanged at Shs 4.6 billion between 2006 and 2007.
Mbabazi told the local media last week that the bank is working to increase its share capital to $50 million and then eventually to $1 billion and that they intend to raise the money in the shortest time possible.
According to our sources, until a few years ago, Mbabazi owned three playboy like mansions near the residence of the American Ambassador to Uganda, below summit view in Kololo and in a leafy Kampala suburb.
However, he sold them at more than Shs3bn and invested the proceeds in Arma Ltd.
Mbabazi who is also the Secretary General of the ruling National Resistance Movement(NRM) owns a palace along Nyonyi Gardens near Kololo Airstrip, adjacent to Minister Rwamwirama’s equally posh home.
When contacted last night, Real Estates experts put the price of this plush house at Shs4bn.
A part from the Kololo mansion ‘Mr. Clean’ owns a mansion in his ancestral home Kinkiizi, Kanungu district and experts put its value at Shs2bn.
A pal to Mbabazi talked of the house last night “It’s very nice and everything in it looks beautiful. It’s as big as a church if not a cathedral”.
MPs further revealed to us last night that Mbabazi is said to be a shareholder in Balton Uganda.
BALTON UGANDA is part of Balton CP which is owned by CP HOLDINGS LTD, a UK based company with investments in a variety of companies and diversified activities around the world.
It deals in construction, telecommunications, agriculture, horticulture and engineering among other activities.
Balton (U) Ltd, housed along Kibira Road in Industrial Area got an exclusive contract to supply all the communications equipment that were used by the Police and other security organs during CHOGM conference last year.
Among the people behind Balton Uganda Ltd is one Israel national by the name Zeev Shiff.
Incidentally, this is the same guy who survived the air crash that killed Col. Jet Mwebaze in western Uganda on September 25 1998.
During CHOGM, this company (Balton) was tasked with the installation of CCTV cameras around Kampala and Entebbe, and also supplied all the walkie-talkies and other communication gadgets that were used by intelligence organs.
Today every walkie-talkie that the Uganda Police uses is supplied by Balton.
The same Balton is the only supplier of teargas trucks and all accessories thereof to the Ugandan Police.
MBABAZI: M7’s BLUED EYED BOY
Perhaps Mbabazi’s biggest and priceless asset is his closeness to President Yoweri Museveni.
Their closeness, according to reliable sources is traced as far back as 1970 when he (Mbabazi) helped Museveni to revamp FRONASA which had been thoroughly crushed in Mbarara.
Since then, the two NRM bigwigs became so close that during the time when Museveni was minister of Defence (Binaisa regime) and Mbabazi Permanent Secretary for the same ministry, both men lived In Kololo.
Museveni used to stay along Prince Charles Drive, just few metres from Mbabazi’s home at Gold Cruise.
“Their kids used to travel in one military Land Rover to and from school. Museveni’s kids used to study from Nakasero Kindergarten while Mbabazi’s used to go to Buganda Road and Nakasero Primary Schools,” a source said last night.
Museveni-Mbabazi relationship blossomed in 1980 when Binaisa was kicked from power by Dr. Apollo Milton Obote.
During that time, Museveni had travelled to Iraq on government business and that it was only Mbabazi who went to Museveni’s home to comfort Janet and his kids.
“He would even enter the bedroom without a hitch and up to now, they are still tight,” a pal said last night.
Our other sources have also opened the lid and revealed more about Mbabazi-Museveni closeness.
They argue that between 1986 and 1996, Museveni used to consult three people; Eriya Kategaya, Amama Mbabazi and Kahinda Otafiire before announcing any changes in government.
However, according to our sources, Mbabazi’s word would prevail over what others said. “Mbabazi has since been referred to as Museveni’s blue eyed boy and Super Minister,” a source observed.
In fact, a story is told how Internal Affairs Minister, Ruhakana Rugunda would have been relieved of his cabinet roles and reassigned other duties long time ago had it not been Mbabazi who pleaded for him.
“There is a time when Museveni wanted to knife Rugunda but Mbabazi pleaded for him and he (Rugunda) was spared.
Infant Mbabazi is Rugunda’s Angel Gabriel because he always delivers good news to him,” our source quipped last night.September 23, 2008 at 5:26 pm #19719
What corruption can do for a poor country like Uganda . Here are some of properties owned by the first family in Uganda .
1. Charm Towers , the former headquarters of Uganda Commercial Bank in Kampala .
2.Garden City Complex, Kampala . That is why it was built on a wetland but nobody could say anything to stop it.
3.Roofings Limited. This is the property of Janet Museveni. We are yet to find out if she owns it alone or as a partnership with her children.
4. Uganda Telecoms. This one is owned by Janet Museveni but we have information that she got it in conjunction with her relative and the then Finance Minister Sam Kuteesa.
5.MTN Uganda . The First Family owns a 47.5 percent stake in MTN Uganda which is Uganda ’s largest mobile phone service provider.
6.Kabira Club we are also told is owned by the First Family using Sudhir Ruparelia as a front. It follows therefore that Kabira International School is also owned by the First Family.
7.Orient Bank. It is controlled exclusively by Sam Kuteesa and he made sure that all the payments to the Uganda Revenue Authority whether they are normal taxes, general receipts for driving permits, passports, trading licenses, new car registration and so on are paid through Orient Bank. You can imagine how much he gets from the URA account.
8.Kampala International University Kampala and the proposed Mbarara branch are also owned by the Museveni conglomerate using businessman Hassan Basajjabalaba as a front.
9.Lake View Hotel Mbarara is also for the First Family. It was bought from Wavamuno some years back.
10.St. Lawrence Citizens High School is owned by the First Family. In fact you could remember a story in the newspapers recently when Museveni and Janet were the guests of honor at Parents Day at the school but when they have no children in the school.
11.Imperial Resort Beach Hotel. It has a bullet-proof presidential suite and sometimes Museveni goes there to rest from his state duties or to meet his other women behind Janets back.
12.Nakasero Market. That one is now in the hands Janet Museveni and Basajjabalaba was brought in as a flint with Kampala Mayor Nasser Sebaggala as a "facilitator."
13.Speke Resort Munyonyo is another property owned by Janet Museveni with her children that is why you see that when heads of state have been coming to Uganda they have been booked there.
14.The Simu 4 U phone call boxes in Kampala are owned by Janet Museveni. These boxes were targeted by protesters during the arrest of Besigye in 2005 because they knew the owners.
15.We suspect that Imperial Botanical Beach Hotel Entebbe of Karim Hirji and Crested Towers in Kampala are also owned by Museveni these days. But we cannot yet confirm it.
16.The greedy man and his family have now been entering joint businesses with the Libyans to co-own Uganda Telecoms, Crested Towers , and the National Housing flats in Kampala .
17.Reports of Museveni family hotel in London .
We are getting reports that the Museveni clan owns an hotel in Knights Bridge in SW1, London , the United Kingdom . If anybody has information on this, please send it in.
18.Museveni owner of BIDCO factory in Jinja
BIDCO company which manufactures cooking oil in Jinja is also has the First Family’s hands all over it. The factory is located in Masese.
FROM SekanyolyaSeptember 23, 2008 at 5:28 pm #19720
Simple: if you want to know the ownership of this hotel, go to the registrar of companies in London.
However be mindful that M7 may seek to hide ownership by using companies registered in other countries, say in South Africa, as owners of properties in England.
Be prepared to follow the thread through multiple countries before you hit pay dirt.
However, of late, the UN has established an outfit to cover all this ill-gotten wealth by the Third world despots. When it’s all over for him, as it must, we can approach them for help.
In a way this has caused panic in these crooks it’s now said Moi has invested with M7 in Uganda and vise visa. It’s noteworthy that M7’s prefer method of laundering his loot is buying land and building hotels and registering them in factious names (famous ghost investors). Here at least he feels he is in control; he can order his underlings into falsifying ownership documents by registering them in ghost investors’ names. They have a sense of security for now since the county is under the barrel of the gun.
Gwanga Mujje.February 16, 2011 at 5:17 am #27461Anonymous
WEBALE KUTUTANGAAZA MU KINO ABANTU BAFFE BEBAKAMULAMU OMUSOLO KATI BAMANYI EBYAABWE GYEBISANGIBWAJuly 11, 2011 at 3:46 am #27686NdibassaParticipant
Bino biriko UpdateJuly 13, 2011 at 2:54 pm #27688Anonymous
ffe bakawonawo tulina okujawo abo abtayagala BUGANDAJuly 25, 2011 at 5:40 am #27690
Kisoboka okuba nga abantu batandise okutondoka enjala nga bajja obuzzi mu nsi bo begagawaza bino byonna Mukama abisasula mu kimu byonna kubibajjakoAugust 11, 2011 at 7:07 am #27702KulabakoParticipant
Ku facebook kuliko ebizimbe ebiwera 130 nga byonna bya M7 kyokka sibino byosaawo nti biyambe abantu bonyagulula kubanga nabakolamu bonna ate baluganda abako nabemikwaano naye bwebaba babba with impunity olwo ddi lwebasasula omusolo okujjako nokudda atunda obunyaanya okumwokera omudaala gwe . Abawalabu bwebatuuka ku point of no return ngabakolera abagagga kyokka nakatono oli nagenda nakamuwambako ate nokumukuba nebamu kuba , gweegwo omuyonjo gwenkoko gwetulaba baleteramu Mubarack. Bwotosasira bantu bofuga naawe tebakusasira nga Mukama abanjulidde enyanja nabagamba nti muyiteewo, waliwo obubbi obwenkukunala naye waliwo nobubbi obwomulugube obwokulooka looka nga nebyovubiise tonasobola kubigaaya naye nga wenna oswakidde okwezza bulikamu okemaliremu, bulijjo enkomerero yeemu erindibwa nge mbaga nti byonna bikuyita mu ngalo kubanga ebibbe tebyaala, ate nomwaavu tafugika
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