LoP calls for accountability of UGX266 billion investment in Roko

The Leader of the Opposition (LoP), Hon. Joel Ssenyonyi has tasked the Minister for Finance, Planning and Economic Development to present before Parliament, accountability of the UGX 263.33 billion invested in Roko Construction Company.

In July 2022, the government acquired preferential shares in Roko Construction Company as part of an equity investment to keep the company afloat.

Ssenyonyi said that whereas the government invested in the company to ensure completion of construction of projects such as Parliamentary Chambers and Uganda Cancer Institute, among others, little progress has been made.

“Government’s stake was to ensure that these projects continue without delay as the collapse of Roko would lead to delay. However, to date, some of the infrastructure projects that were fronted as the reason for the approval of this investment have not been completed,” Ssenyonyi said.

The LoP made these demands in his report to the House on Tuesday, 22 October 2022.

“Government ought to update Parliament on the latest financial standings of this company given that the government approached Parliament with the bail out request. I think it is prudent that the House is given accountability,” said Ssenyonyi.

He also wants the Attorney General, Hon. Kiryowa Kiwanuka to table in Parliament, the shares agreement between the government and Roko.

“Government shares are not clear; there is need to clarify this. It is not known as to whether amendments were made to include government investments and how much the government owns in equity and what type of shares,” he said.

The LoP further called for investigation into governance challenges in the company saying that employees there have severally complained of non-payment.

“Government said the aim of the bail out was aimed at saving jobs. Is the government aware of concerns by employees?” Ssenyonyi asked.
Ssenyonyi’s concerns are premised on a failed oversight visit to the company’s premises where he led a delegation of Opposition lawmakers on Monday, 14 October 2024 but were denied access.

“The managing director said that the board had rejected the planned engagement with the Members of Parliament and the company’s management. Please, encourage Roko, if they have nothing to hide, they should be open,” said Ssenyonyi.

Speaker Anita Among urged the Minister of Finance and the Attorney General to make a response to the LoP’s report.

“We have our money that is with Roko; we need to know how the money is being used and most importantly, what members are asking. You need to have an interface with Roko and give a report to this House,” said Among.

The Minister of State, Finance, Planning and Economic Development (General Duties), Hon.  Henry Musasizi pledged to present the response.

“I do commit that we shall bring a report about the issues which the LoP has raised,” Musasizi said.