KAMPALA —Federation of Motosports Clubs of Uganda (FMU) has cleared one of their oldest debt of sh55m that was left behind by the old management.
Speaking at the Annual General meeting on Saturday at Lugogo, Kampala, the FMU President Dipu Devesh said the debt was a loan taken from Prime Finance Ltd.
Devesh also revealed that the federation had signed a Memorandum of Understanding with Development Infrastructure Limited (DI), an Arua based firm to take motorsport to West Nile.
“DI is providing 100% of the financial muscle to develop 30 acres of land to build a motorsport arena to cater for rallying, motocross, karting and drifting event, while FMU is providing strictly technical support at this initial stage and upon completion, FMU shall own 10% shares from the project,” Devesh said.
He also said that the Federation intends to start a constitutional review process with the next 4 months to ensure that governance challenges are streamlined.
“A committee led by our Electoral Commission chairman shall guide this process to its logical conclusion as soon as possible,” Devesh said.
Despite a lack of resources, Devesh said the federation was able to organise round one of motocross, National Rally Championn (NRC) as well as MX round one.