Basajjabalaba asserts ownership of City Square, disputes BoU debt

Hajj Hassan Basajjabalaba, owner of the Haba Group of Companies, has stated his claim as the rightful leaseholder of Kampala’s City Square. Appearing before the Parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (COSASE), Basajjabalaba refuted the Bank of Uganda’s (BoU) claim that he owes Shs140 billion.

He informed the committee that he obtained the lease for City Square in 2002, initially for a five-year term, which was later extended to 49 years. Basajjabalaba questioned why there were efforts to hand over the property for development to another businessman, stating, “I am the rightful owner. I wonder why some people want to give it to another rich man. If they want to take it away, they must compensate me first.”

Furthermore, Basajjabalaba asserted that he does not owe the central bank any funds. Instead, he claims the government owes him a sum of Shs168.8 billion, a statement that prompted questioning from Members of Parliament regarding the conflicting positions in the ongoing financial dispute.

Basajjabalaba also alleged the existence of a group within the Bank of Uganda working to obstruct a resolution to the matter, suggesting they benefit from the prolonged dispute. He specifically addressed the interest shown by another businessman, Hajji Bulwadda, in developing City Square, referencing a letter from President Museveni concerning the property. Basajjabalaba dismissed Bulwadda’s interest, stating, “City Square is mine. I got its lease in 2002. Hajj Bulwadda is just wasting time admiring it.”

He presented documentation related to City Square, the disputed funds, and other markets connected to the long-standing conflict with the Bank of Uganda. In response to Basajjabalaba’s submissions, COSASE resolved to summon Bank of Uganda officials again to further investigate the competing claims.

This article is based on information from Nile Post.