Source: UgandaToday
Nakaseke South MP Paulson Luttamaguzi Ssemakula has launched a blistering critique of President Yoweri Museveni, accusing him of dismantling Uganda’s economic backbone by privatizing key government parastatals. In a video set to accompany this article, Luttamaguzi declares the ruling party’s 2026 slogan—”consolidating NRM gains”—as hollow, pointing to what he argues is a systematic sell-off of vital national assets.
Alleged Sell-Offs: Historic Parastatals Eroded Under Power
Luttamaguzi names several historically significant entities now under private control, including:
Uganda Commercial Bank (UCB) – sold to South Africa’s Stanbic Bank in 2001 for around USD 19.5–19.6 million—a transaction he and others later described as undervalued. Museveni himself later admitted regretting the decision MonitorNilepost News.
Uganda Telecom (UTL) – sold in June 2000 to Detecom; later continued to struggle under new ownership Monitor.
Kinyara Sugar Works – partly privatized with foreign investment; performance remains debated MonitorWikipedia.
Uganda Grain Milling Company (UGMC) – controversially sold to President Museveni’s brother under Caleb International, bypassing higher bidders Monitor+1kashambuzi.com.
Entebbe Handling Services (ENHAS) – sold under contentious circumstances, with beneficiaries tied to senior officials; highest bidders were allegedly overlooked Monitor.
Other parastatals – including Uganda Airlines, Foods & Beverages, Fresh Foods, Uganda Hire Purchase, and New Vision Printing & Publishing, were either liquidated or sold through various modalities Monitor+2Monitor+2.
In total, data from the Privatisation Unit shows that by mid-2011, Uganda had completed 95 sell-off transactions and 39 liquidations, amounting to over 134 parastatals divested through sales, concessions, auctions, public offerings, and other means Monitor+1.
Luttamaguzi’s Rebuke: Substance vs. Symbolism
In the video accompanying this article, Luttamaguzi contends that Museveni’s promise to “consolidate NRM gains” cannot hold weight when the ruling party has presided over dismantling significant economic assets. He accuses the president of enriching a narrow circle at the expense of national capability and prosperity.
Editor’s Note: Framing the Public Debate
This article is offered in the spirit of unbiased public information dissemination, to sharpen understanding and open civic discourse. Our intent is not to endorse or condemn, but to lay out documented facts and claims—so that citizens, stakeholders, and policymakers can reflect on their implications for Uganda’s democratic and economic trajectory.
By spotlighting both the historical context of privatization and the voices challenging contemporary political messaging, we aim to foster inclusive dialogue on government accountability, resource stewardship, and nation-building—especially in the run-up to the 2026 general elections.
