President Yoweri Kaguta Museveni has reportedly come to the rescue of the high-end Emin Pasha Hotel and its parent company, Prism Construction, following looming threats of a bank auction over unpaid loans.
According to credible reports, Prism Construction’s chairman, Mr. Lokule, made a direct appeal to the President, pleading for urgent intervention after the company failed to settle a significant debt amounting to UGX 8.37 billion. The debt reportedly stemmed from a delayed payment by the Ministry of Education and Sports, which had contracted Prism Construction to develop infrastructure at Uganda Technical College in Bushenyi.
Sources reveal that Mr. Lokule explained to the President that the delay in government payments had pushed his company into a financial crisis. With the bank threatening to auction Emin Pasha Hotel and other properties owned by the company — reportedly valued at over UGX 150 billion — urgent action was required to avert a total collapse.
Moved by the appeal and understanding the strategic value of both the hotel and the construction firm, President Museveni is said to have instructed Finance Minister Matia Kasaija to urgently “look for the money without fail” and ensure that Lokule’s company is supported in clearing the debt.
Emin Pasha Hotel, located in Kampala, is one of Uganda’s most prestigious boutique hotels, known for its luxury hospitality and historical value. The hotel has long served high-profile guests, diplomats, and international visitors, making it an important player in Uganda’s tourism and hospitality landscape.
Prism Construction, on the other hand, is a reputable firm in the infrastructure sector, with a track record of handling major government projects. Its financial stability is considered crucial to ongoing public infrastructure developments.
