Kadaga Says Land For Constructing Regional Central Bank Has Been Found

Posted by: Kyeyune Andrew Jonathan in Uganda news August 7, 2021

First Deputy Prime Minister and Minister for East African Affairs, Rebecca Kadaga has revealed findings from her ministry. She said they have found land in Uganda where they will construct the East African Central Bank.

She said she awaits the cabinet approval for the payment of the said land.

‘’Bank of Uganda and Ministry of Finance have found a structure where the East African Central Bank will be temporarily housed as they embark on the construction of permanent headquarters,’’ she said.

The Monetary Union is one of the important stages in the process of the East African Community regional integration. Additionally, they adopted this in accordance with the East African Community treaty.

However, the location of the land remained anonymous as Kadaga became tight-lipped about the matter.

She, however, disclosed that the partnership between Jinja City and Shenyang City in China has started yielding results.

She also disclosed to journalists that government is in the final stages of establishing a sugar factory in Busoga. The factory is a way of solving the low prices of canes in the area.

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