Parliament to assess Govt investment in Munyonyo Commonwealth Resort
Parliament’s Committee on Trade, Tourism, and Industry has tasked Munyonyo Commonwealth Resort Limited to provide audited financial statements after it emerged that the facility has not been officially audited for the last four years, reportedly due to the delayed appointment of government representatives to the Board. Munyonyo is a partially government-owned Vitoria Lakeside five-star hotel resort in Kampala sitting on a 90-acre land. Through the Uganda Development Corporation – UDC, the government holds 25 percent shares or 15,061,309,120 shares out of the 60,244,836,480 paid-up shares in Munyonyo. While appearing before the probe Committee on Thursday, Dr. Patrick Birungi, the Executive Director of UDC revealed that Munyonyo Resort has no audited financial statements for the Financial Year 2019 and 2022 due to the delayed appointment of government representatives to the Board. The Committee chaired by Charles Okello the Nwoya East County […]