KAMPALA, UGANDA – Edris Kiggundu, a senior journalist and CEO of Bbeg Media, has raised concerns over the financing of Nakivubo War Memorial Stadium, popularly known as Nakivubo Stadium, built by Ham Kiggundu. Kiggundu questions how Ham Kiggundu, who struggled to repay a $11 million loan from DTB, could have allegedly invested $200 million in the stadium’s construction.
According to Kiggundu, the math doesn’t add up. “Someone who struggled to pay back $11 million to DTB, made noise, paid influencers and some journalists, somehow ‘raised’ $200 million from thin air,” he wrote in a recent analysis. “In the near future, the real story (of why and how the figure came to $200 million) will be revealed, and it will not be pretty.”
Kiggundu’s comments have sparked a heated debate over the stadium’s financing, with many calling for transparency and accountability. The stadium, with a seating capacity of 15,000, has been touted as a state-of-the-art facility, but Kiggundu’s analysis has raised questions over its true cost and funding sources.
Ham Kiggundu, the businessman and owner of the stadium, has yet to respond to Kiggundu’s allegations. However, sources close to the matter have hinted that the stadium’s financing may be more complex than initially meets the eye.
As the controversy continues to unfold, many are calling for a full investigation into the stadium’s financing to ensure transparency and accountability. Kiggundu’s analysis has sparked an important conversation, and it remains to be seen how the story will unfold in the coming days.
President Yoweri Kaguta Museveni commissioned the newly refurbished Nakivubo War Memorial Stadium on Thursday, 25th April 2024.
