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Louis kasekende
Deputy governor BoU Dr Kasekende. Courtesy photo

Kasekende Seeks Private Meeting With Kadaga as Probe on His Wealth Takes Shape

According to a highly placed source, Kasekende wants to meet Kadaga in person to explain his position in the alleged accumulation of wealth and properties
posted onJanuary 2, 2019
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By Max Patrick Ocaido

PARLIAMENT. Deputy Governor, Bank of Uganda (BoU) Louis Kasekende is reportedly seeking a private meeting with Speaker of Parliament Rebecca Kadaga over the ongoing probe on his wealth.

According to a highly placed source, Kasekende wants to meet Kadaga in person to explain his position in the alleged accumulation of wealth and properties.

The Parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) headed by Abdu Katuntu is currently investigating BoU over the closure of 7 defunct Banks. The committee also embarked on investigating the wealth of top BoU officials including Kasekende, Governor Emmanuel Mutebile and former BoU executive director in charge of supervision, Justine Bagyenda.   

Late last month, Kasekende wrote to Kadaga explaining huge Bank and Mobile money transactions including the alleged transfer of money from MMAKS Advocates, Tororo District local government and China Railway. In his report, Kasekende said the information relating to the three accounts “was based on false/forged documents.”

“A review of the documents received from COSASE reveals that all the information relating to the operation of the bank accounts in the joint names of Louis and Edith Kasekende or in the name of Edith Kasekende was based on false/forged documents. It is very unfortunate that such documents were submitted to support the allegations against me,” Kasekende wrote.

Apparently, top BoU officials have also hatched a plot to frustrate a new audit by the Office of the Auditor General as ordered by the committee.

Before breaking off in December, the committee directed the Auditor General to carry out a thorough Audit into Shs478bn liquidation expenditure to the defunct Crane Bank Limited.

COSASE wants the AG to establish how the BoU team arrived at Shs478 billion in the receivership of Crane Bank and yet the Crane Bank needed less than Shs30 billion for recapitalization.

Kasekende, Bagyenda and Benedict Sekabira allegedly shared most of the properties of closed banks and this explains why the three almost own posh properties in all the suburbs of Kampala.

In his declaration of wealth form, Kasekende who earns a salary of Shs45m per month and Shs13m allowance has multi-billion properties in leafy suburbs of Kampala and Wakiso districts.

In the details of assets on undeveloped or vacant land, Kasekende reveals that he is the rightful owner of Plot 3 Gaba Close valued at Shs2.1bn, Plot 1475, Lubowa Est in Wakiso (Shs2bn), Plot 12 Corporation Rd, Ntinda (Shs390m), Plot 2 Bukoto Rise, Naguru (Shs1.3bn), Plot 2B Makindo Lane, Kololo (Shs2bn) and Buloba plot 706 Block 314 (Shs500m).

With the exception of Buloba plot which contains his residential home, Kasekende has built commercial houses on each of his plots of land all valued at Shs7.69bn.

In his declaration form, Kasekende also added that he collects rent of up to $13,233 (about Shs50m) per month.

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