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IGG Names Team to Investigate Kasekende Wealth

Inspector General of Government has named a team which will investigate the wealth of deputy governor bank of Uganda Austin Louis Kasekende.

“This is to notify you of the decision by the Inspector General of Government to conduct a verification of your income, assets and liabilities as provided under section 4C of the leadership Code Act 2002”. Reads letter signed by Annet Twine on behalf of IGG.

According to the letter written from the office of the IGG and addressed to Kasekende, the team is heading by Victor Acidiri a senior Principal Inspectorate officer and Doreen Tusiime also an inspectorate officer.

“They have been authorized to conduct the verification exercise and obtain information in respect of this matter. Please accord them necessary assistance and cooperation that they require”. Letter adds.

Kasekende’s probe follows after details from the declaration of income, assets and liabilities forms link senior BoU officials to a number of properties in upscale areas of Kampala, Wakiso and other areas.

For instance, the declarations to the IGG also contain full details on where senior BoU officials got the money for buying the prime assets in question, including posh cars.

It is indicated that the report on the suspicious wealth of Justine Bagyenda, the former BoU director for commercial bank’s supervision, triggered the IGG verification.

Ms Bagyenda, who has since left BoU, is under a separate investigation by the IGG over allegations of illicit accumulation of wealth.

Kasekende declared his annual income at 559,848,000 million shillings annually, with allowances pegged at 162,798,484 million shillings.

However, the deputy governor listed assets especially commercial buildings worth over 50 billion with the most expensive being a commercial building co-owned with Andrew Kasekende, on Gaba Close valued at 2.1 billion.

Kasekende’s declared properties are based in Kampala’s high end neighborhoods including Ntinda, Naguru, Gaba and Kololo, plus upcoming suburbs like Lubowa. The deputy governor also declared 5 commercial properties with the least priced being valued at 0.39 billion and one residential property whose valued was listed as 0.5 billion.

Other assets listed by the deputy governor include two Mercedes Benz cars,and one Toyota Hilux Pick-Up truck.

Kasekende’s sources of income were declared income from 3489 shares held in Greenhill Holdings which owns a school, savings from salary, allowances and research grants.
Other sources of income listed were gratuity payments from BOU, AFB and World Bank loans, loans from other commercial banks, rental income, and pension from BOU and disturbance allowance from his employer, Bank of Uganda.

Kasekende is also believed to have amassed a lot of wealth through dubious sell of several banks including handing over a shs 1.3 trillion Crane bank to Dfcu at a sweetheart price of just shs 200bn.

He is also reported to be holding several bank accounts in Kampala and broad which he uses to get unsecured loans from bank of Uganda and other kickbacks from other financial institutions.

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