{"id":74766,"date":"2024-06-03T17:48:29","date_gmt":"2024-06-03T17:48:29","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/all-news\/cou-finally-pays-off-church-house-debt"},"modified":"2024-06-03T18:04:39","modified_gmt":"2024-06-03T18:04:39","slug":"cou-finally-pays-off-church-house-debt","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/cou-finally-pays-off-church-house-debt","title":{"rendered":"CoU finally pays off Church House debt"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>The pilgrims attending the Martyrs Day celebrations at the Anglican site in Namugongo today today are set to be presented with special news of the full payment of the debt for Church House.<\/b><\/p>\n

The Church of Uganda (CoU) was on the verge of losing the 16-storey commercial building on Plot 34, Kampala Road, to Equity Bank over failure to fully pay off the debt, which was acquired nearly 14 years ago.<\/p>\n

However, Press has learnt that the church under the leadership of Archbishop Samuel Kaziimba has been able to clear the entire debt, and the bank is expected to present them with a certificate of debt completion today.<\/p>\n

This means that unlike previous Martyrs\u2019 Day celebrations, this year\u2019s event will be marked without the church leadership lamenting about the Church House debt.<\/p>\n

In an interview, Church of Uganda provincial spokesperson Adams Sadiiki said the pilgrims at Namugongo will be informed of the development, which he described as good news.<\/p>\n

\u201cA lot of excitement is expected this year because stories of Church House debt being taken over by the bank will not be heard anywhere,\u201d Mr Sadiiki said.<\/p>\n

\u201cPilgrims will be notified that the church is now debt-free and that all churches investing their money in it will soon start receiving dividends,\u201d he added.<\/p>\n

He said they would not have raised the remaining balance of about Shs16 billion had it not been for the fundraising drive, which brought all Christians, well-wishers, government and private companies on board.<\/p>\n

\u201cThe Church House has been the priority of the Church of Uganda and it is one of the ways we shall be able to attain a self-sustainability agenda,\u201d Mr Sadik said.<\/p>\n

CoU under then Archbishop Henry Luke Orombi in 2010 borrowed $17 million (about Shs40 billion) from Equity Bank for the construction of Church House.<\/p>\n

About the debt<\/b><\/p>\n

The Church contributed 30 percent towards the construction while Equity Bank contributed 70 percent.<\/p>\n

The Church House was completed in 2018 and handed over tothe Church of Uganda, which was under the leadership of Archbishop Stanley Ntagali.<\/p>\n

However, it emerged that Equity Bank was threatening to take over the building after the Church failed to raise the money it had borrowed for the project.<\/p>\n

In 2021, Archbishop Kaziimba launched a fundraising driveto save the building. The drive targeted all Anglicans from 37 dioceses across the country.<\/p>\n

Mr Sadiiki said the fundraising drive has done a tremendous job in saving Church House.<\/p>\n

When contacted yesterday, the spokesperson of Equity Bank, Ms Barbara Among, said further information regarding the project will be relayed during the Martyrs\u2019 Day celebrations today.<\/p>\n

\u201cI do not want to pre-empt what the Archbishop and our ED [Executive Director] are going to announce at the Martyrs\u2019 Day celebrations,\u201d Ms Among said.<\/p>\n

For More News And Analysis About Uganda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Uganda. The pilgrims attending the Martyrs Day celebrations at the Anglican site in Namugongo today today are set to be presented with special news of the full payment of the debt for Church House. The Church of Uganda (CoU) was on the verge of losing the 16-storey commercial building on Plot 34, Kampala […]<\/p>\n","protected":false},"author":84,"featured_media":74765,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6],"tags":[233,240,234],"class_list":["post-74766","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"\nCoU finally pays off Church House debt - Uganda<\/title>\n<meta name=\"description\" content=\"The pilgrims attending the Martyrs Day celebrations at the Anglican site in Namugongo today today are set to be prese ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/uganda\/all-news\/cou-finally-pays-off-church-house-debt\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CoU finally pays off Church House debt\" \/>\n<meta property=\"og:description\" content=\"The pilgrims attending the Martyrs Day celebrations at the Anglican site in Namugongo today today are set to be prese ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/cou-finally-pays-off-church-house-debt\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-03T17:48:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-03T18:04:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2024\/06\/sm_1717425183.979815.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/cou-finally-pays-off-church-house-debt#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/cou-finally-pays-off-church-house-debt\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"CoU finally pays off Church House debt\",\"datePublished\":\"2024-06-03T17:48:29+00:00\",\"dateModified\":\"2024-06-03T18:04:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/cou-finally-pays-off-church-house-debt\"},\"wordCount\":468,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/cou-finally-pays-off-church-house-debt#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2024\/06\/sm_1717425183.979815.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"files\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/cou-finally-pays-off-church-house-debt#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/cou-finally-pays-off-church-house-debt\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/cou-finally-pays-off-church-house-debt\",\"name\":\"CoU finally pays off Church House debt - 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