The Archbishop of the Church of Uganda, Dr Stanley Ntagali has dismissed reports indicating that the Anglican Church is at risk of losing its multi-billion Church House building in Kampala over debts.
Sunday Vision newspaper reported that Equity Bank which extended a loan of Shillings 38 billion and another Shillings 5 billion towards the construction of the 16 story building has threatened to auction the structure over non-payment of the loan.
The report says that the Bank wanted to auction the building last year in a bid to recover the money it invested in the project. The structure was estimated to cost Shillings 61.6 billion once completed with Christians contributing towards the church project for the past 40 years and additional funding provided by Equity Bank.
While addressing Christians at the Anglican Shrine at Nakiyanja- Namugongo, President Yoweri Museveni who in the past contributed Sh300 million towards the project expressed sadness about the media reports, pledging to support the Church to clear the debt.
The President said that it was not possible for the Church to lose a big project like Church House.
However Archbishop Ntagali took to the podium and described the reports as total lies and attributed it to the enemies of the Church.
He explained that Equity Bank is a Church’s partner in the project and that the building Contractor- Cementers are to hand over the building to the Anglican Church on 14th June 2018.
Ntagali said that immediately after the handover, Equity Bank will move from Katwe and occupy Church House this month. The Archbishop further revealed that the Building is to be officially opened on 23rd August 2018.