Stephen Rwangyenzi, the founder of the Ndere Cultural Centre, has appealed to the government and the public at large to join efforts with him to save the Kisaasi-based cultural heritage that is on the verge of being auctioned.
Mr. Rwangyenzi appealed as he addressed the reports that recently circulated indicating how he is set to lose the iconic cultural hub, due to an unpaid loan.
He affirmed having acquired a loan amounting to 6.8 billion from the Uganda Development Bank (UDB) in 2019 with the idea of turning the center into a research and learning institute, documenting, archiving, and teaching the younger generation about our heritage.
On top of that, to establish two other tourist infrastructure projects bringing African hospitality to develop profits.
In choosing a bank to acquire the loan from they went to UDB because their interest rate was more favorable compared to other banks, and believed they offered more flexible, longer-term repayment options but then COVID-19 happened distorting all the ongoing programs.
With a 15-day deadline left on their side, Mr. Rwangyenzi pleaded to the president, government, and citizens at large to rescue the Ndere Centre and its philosophy by getting the loan waived.
“We ask for a bit more time to stabilize and make a bit more money and we start paying but they refused it. For a long time, we have been writing letters and attending meetings but none of our letters was responded to. All we got were letters of foreclosure, notices, and eventual advertisements. Even now when they have reached these 15 days we asked them to give us one more year.
So that either we get other people to invest in the plight of the center and get money we pay or if we are to sell to give us time and not sell under our other investments
We therefore appeal to Ugandans, right from the president, government, to citizens to come to the rescue of Ndere Cultural Centre and the Ndere Philosophy. This loan is pushing us to open our hands to let Ndere fall. He asks for three things if the loan can be waived, bailed-out like the loan being canceled.
If that can’t be done, he opts that they get shareholders, like the government buying shares by so doing, they would raise the money to pay UDB or be given time to carry out a mobilization on their own and get the money to pay back and remain alive. I don’t think it valuable for this country to recover 10.5 B and lose a source of money worth 33Billion based on how it was valued in 2018″, Stephen Rwangyenzi.
Founded in 1984, the Ndere Troupe has been a vital platform for preserving Uganda’s rich heritage. As the auction nears, the future of this cultural cornerstone is at risk.
