The man, whose name has not been established, apparently picked interest in the nation's capital after he read in the Sunday Vision that government had sold Nyanza Textile Industries (Nytil) for Shs 1,000.
According to the Sunday Vision, the Governor of the Central Bank, who reportedly signed off the transaction while he was still Permanent Secretary in the Ministry of Finance, confirmed the sale, which he described as "common practice".

"I also want to benefit from this common practice. With Shs 15,000, Mutebile, or whoever, can sell me the equivalent of 20 Nytils, considering the recent appreciation of the shilling against the dollar," the man, who is a peasant from Gulu, argued. He said that in his estimation, 20 Nytils were the equivalent of Kampala City.

"Under this ‘common practice', a lot of people must have bought state assets for Shs 1,000 or less. If they had advertised them, I would have bought some myself," the peasant said, adding that he had been spending more than Shs 1,000 on a bottle of beer when the same amount could buy him entire factories.

"Can you imagine instead of a bottle of beer, I could have bought an entire brewery from Mr. Mutebile!" the peasant said. Asked what he intended to do with Kampala City if the authorities agreed to sell it to him for Shs 15,000, the peasant said: "Well, what did the Nytil buyers do with it? Frankly at that price, I don't have to do anything with it. I can just let it rot. The important thing is that everyone will know that I own it," he said.

And if his investment collapsed, he said, he would ask President Yoweri Museveni to bail him out with public funds. "I think he has a good record of saving both local and foreign investors who are on the brink of collapse. I can't think of any reason why he would not want to bail out a peasant investor from Gulu," he said.

The Analyst was unable to confirm from Mr. Mutebile or other government officials how many factories of Shs 1,000 each they had left for sale.

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Comments (1)

	1. 24-11-2007 15:42
	invester i want to invest in uganda us $ 10 million. i am looking for local partner [working only]to help me.  i am interested in buying govt auction factory or any profitable business like import export any items Registered Report

rajendra khosla

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