• Latest
Minister Tables Proposal to Buy Shs202.13bn Shares and Rescue Roko Construction Firm

Minister Tables Proposal to Buy Shs202.13bn Shares and Rescue Roko Construction Firm

3 years ago
Makerere is No.1 in East Africa — World University Rankings

Makerere is No.1 in East Africa — World University Rankings

13 hours ago
EAE 20 Share Index Launched to Track Region’s Top Companies

EAE 20 Share Index Launched to Track Region’s Top Companies

15 hours ago
Uganda, Azerbaijan Sign Visa Waiver MoU

Uganda, Azerbaijan Sign Visa Waiver MoU

16 hours ago
Museveni Urges Europe to Capitalise on Africa’s Investment Potential

Museveni Urges Europe to Capitalise on Africa’s Investment Potential

16 hours ago
Deloitte’s Paul Ssali: Great CFOs Build Legacies That Outlast Their Tenure

Deloitte’s Paul Ssali: Great CFOs Build Legacies That Outlast Their Tenure

20 hours ago
Focus on Shared Prosperity and Reject Global Hegemonism – Museveni Tells NAM

Focus on Shared Prosperity and Reject Global Hegemonism – Museveni Tells NAM

23 hours ago
SoftPower News
Friday, October 17, 2025
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
    • Fashion
  • Regional
    • Kenya
    • Rwanda
    • Tanzania
    • Burundi
    • South Sudan
    • DR Congo
  • Defence & Security
  • Sport
  • Entertainment
  • More
    • Agriculture
    • Africa
    • Columnists
    • Education
    • Health
      • COVID-19
    • International News
    • News in Pictures
    • OpEd
    • Pearl Of Africa
    • People
    • Politics
    • Special Reports
    • Women
No Result
View All Result
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
    • Fashion
  • Regional
    • Kenya
    • Rwanda
    • Tanzania
    • Burundi
    • South Sudan
    • DR Congo
  • Defence & Security
  • Sport
  • Entertainment
  • More
    • Agriculture
    • Africa
    • Columnists
    • Education
    • Health
      • COVID-19
    • International News
    • News in Pictures
    • OpEd
    • Pearl Of Africa
    • People
    • Politics
    • Special Reports
    • Women
No Result
View All Result
SoftPower News
No Result
View All Result
Home News

Minister Tables Proposal to Buy Shs202.13bn Shares and Rescue Roko Construction Firm

by Muhamadi Byemboijana
July 8, 2022
Minister Tables Proposal to Buy Shs202.13bn Shares and Rescue Roko Construction Firm
15
VIEWS

The State Minister of Finance in charge of General Duties, Hon. Henry Musasizi, has tabled a government proposal to acquire shares in Roko Construction Limited.

The minister says government intends to purchase 150,000 preferred shares in Roko worth Shs202.13 billion which will be paid for over a period of five years.

Related Stories

Makerere is No.1 in East Africa — World University Rankings

EAE 20 Share Index Launched to Track Region’s Top Companies

Uganda, Azerbaijan Sign Visa Waiver MoU

According to the minister’s motion that was tabled during the Thursday, 07 July 2022 plenary sitting, the proposal to acquire shares in the construction firm is “intended to support the company with the necessary liquidity to meet its operational needs and other obligations.”

Musasizi laid the proposal on the Floor of Parliament along with the clearance report from the Attorney General.

The Speaker, Anita Among, directed the Committee on Finance, Planning and Economic Development to scrutinise the motion and present the report for consideration in a period of one week.

Section 23 of the Public Finance Management Act 2015 as amended, provides that a vote cannot enter into a transaction or agreement that binds government to a financial commitment for more than one financial year, except where the financial commitment is authorised by Parliament.

In 2020, more than 26 companies sought a court order to wind up Roko Construction Company for allegedly failing to pay huge debts in accordance with Section 3 of the Insolvency Act.

Roko is a local construction and civil engineering company founded in 1969 by the late Max Rohrer and Rainer Kohler, natives of German and Switzerland, respectively.

Over the years, the company has executed a number of huge construction projects in the country such as Workers House, which belongs to the National Social Security Fund, dfcu building, Mestil Hotel, Namugongo Shrine and the Uganda Cancer Institute, among others.

Tags: financeGovernmentRoko Construction FirmShs202.13bn SharesSoft PowerSoftPower NewsTop News

Recent Stories

Makerere is No.1 in East Africa — World University Rankings

EAE 20 Share Index Launched to Track Region’s Top Companies

Uganda, Azerbaijan Sign Visa Waiver MoU

Museveni Urges Europe to Capitalise on Africa’s Investment Potential

Deloitte’s Paul Ssali: Great CFOs Build Legacies That Outlast Their Tenure

Focus on Shared Prosperity and Reject Global Hegemonism – Museveni Tells NAM

SoftPower News Logo

SoftPower News is a subsidiary of SoftPower Communications LLC, a Ugandan digital media group. Keep posted of the latest from Uganda and East Africa.
Plot 4B Malcolm X, Kololo
P.O Box 1497, Kampala - Uganda
Tel: +256-392-001-701
Email: info@softpower.ug

This news site is licenced by Uganda Communications Commission (UCC)

ADVERTISEMENT
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
  • Regional
  • Defence & Security
  • Sport
  • Entertainment
  • More

© SoftPower News

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

error: Content is protected
No Result
View All Result
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
    • Fashion
  • Regional
    • Kenya
    • Rwanda
    • Tanzania
    • Burundi
    • South Sudan
    • DR Congo
  • Defence & Security
  • Sport
  • Entertainment
  • More
    • Agriculture
    • Africa
    • Columnists
    • Education
    • Health
      • COVID-19
    • International News
    • News in Pictures
    • OpEd
    • Pearl Of Africa
    • People
    • Politics
    • Special Reports
    • Women

© SoftPower News

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?