Shock as Museveni bails out UBC with Shs20bn

President Museveni has directed Finance Minister Matia Kasaija to bail out the financially constrained state broadcaster Uganda Broadcasting Corporation (UBC) to the tune of Shs20 billion.

Reports indicate that the directive from the President was issued after UBC soaring debts reached Shs28 billion.

In his letter, Museveni copied in ICT Minister Frank Tumwebaze and Permanent Secretary in the Ministry of Finance Keith Muhakanizi and said the Finance Ministry should capitalise UBC with a one off fund to rescue it.

UBC’s financial woes are said to be caused by the running of two television stations and 11 FM radio stations.

Some observers criticised the move as poor prioritising since Makerere university lecturers are yet to be paid their allowances for several months.

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editor@independent.co.ug