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    Fake Blackmail: Let Ham Deliver Nakivubo Stadia instead of Labeling Bond Okello, Audrine Nsubuga Unpatriotic

    Fake Blackmail: Let Ham Deliver Nakivubo Stadia instead of Labeling Bond Okello, Audrine Nsubuga Unpatriotic

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    Alone and Frustrated: Irate MC Kats Tag Anti HIV NGOs as Bogus and Useless with Empty Promises Towards His Cause

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    Fake Blackmail: Let Ham Deliver Nakivubo Stadia instead of Labeling Bond Okello, Audrine Nsubuga Unpatriotic

    Fake Blackmail: Let Ham Deliver Nakivubo Stadia instead of Labeling Bond Okello, Audrine Nsubuga Unpatriotic

    Heroine! Presidency Minister Milly Babalanda Saves Kyabazinga from Physical Assault at the Canada Busoga Symposium

    Heroine! Presidency Minister Milly Babalanda Saves Kyabazinga from Physical Assault at the Canada Busoga Symposium

    All Royal: HRH Kamuswaga Concludes His Official Trip to California with Lots of Investors` Attraction to Kooki Kingdom

    All Royal: HRH Kamuswaga Concludes His Official Trip to California with Lots of Investors` Attraction to Kooki Kingdom

    Of Daily Monitor’s 30th Well-Earned Birth Bazaar And the Tough Scribes That Have kept M7`s Sleep in Constant Check

    Of Daily Monitor’s 30th Well-Earned Birth Bazaar And the Tough Scribes That Have kept M7`s Sleep in Constant Check

    Stephen Kissa the Pace-setter

    Stephen Kissa: Unveiling the Country’s Pace-maker who set Ace Cheptegei`s World Athletics` Gold and Bronze Medals

    NRMO Canada Symposium: Minister Ruth Nankabirwa to Represent President Museveni at the 1st Ever Do

    NRMO Canada Symposium: Minister Ruth Nankabirwa to Represent President Museveni at the 1st Ever Do

    Trending Tags

    • Trump Inauguration
    • United Stated
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    Digital Technologies Could Help Uganda’s Economy Recover Faster

    Digital Technologies Could Help Uganda’s Economy Recover Faster

    Liquid Telecom to host first cloud event of its kind in Uganda

    Liquid Telecom to host first cloud event of its kind in Uganda

    TECNO Mobile Uganda Skills Graduates Through Its Graduate Trainee Program

    TECNO mobile Uganda skills graduates through its graduate trainee program

    UNBS closes Sunshare factory over failure to comply with Standards

    UNBS closes Sunshare factory over failure to comply with Standards

    Outgoing PRAU President Cynthia Mpanga (right) hands over the key to new PRAU President Sarah Kagingo as PRAU Patron Min. Frank Tumwebaze looks on

    Hon. Frank Tumwebaze graces PRAU Governing Council Handover Ceremony

    UG Pineapple at B&W

    It was Blankets and Pineapple Waragi as SA’s Distruction Boys entertain Kampala

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Entertainment
    • All
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    Castoff: How Sevo Used Music to Boost His Bush-war but has for 42yrs Ignored the Loud Cries for the Copyright Law

    Castoff: How Sevo Used Music to Boost His Bush-war but has for 42yrs Ignored the Loud Cries for the Copyright Law

    Rev and Groove: Mbarara City Festival Rally Set to Fire Up the Community at Booma Golf Course Grounds this February

    Rev and Groove: Mbarara City Festival Rally Set to Fire Up the Community at Booma Golf Course Grounds this February

    Alone and Frustrated: Irate MC Kats Tag Anti HIV NGOs as Bogus and Useless with Empty Promises Towards His Cause

    Alone and Frustrated: Irate MC Kats Tag Anti HIV NGOs as Bogus and Useless with Empty Promises Towards His Cause

    Thursday With Joan Bonny: When the Stranger Becomes your Hero than the People you are Familiar with, Know Better

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    Catch22 Blues: Powerful Royal Handler, Longtime Friends, Fail to Save their Pal Hope Mukasa from Luzira Jaws

    Novice Promoter Biggy Events Must Leave to Jose Chameleon Brand Billing at ‘Gwanga Mujje’ or He Dents his Legacy

    Novice Promoter Biggy Events Must Leave to Jose Chameleon Brand Billing at ‘Gwanga Mujje’ or He Dents his Legacy

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    Alone and Frustrated: Irate MC Kats Tag Anti HIV NGOs as Bogus and Useless with Empty Promises Towards His Cause

    Alone and Frustrated: Irate MC Kats Tag Anti HIV NGOs as Bogus and Useless with Empty Promises Towards His Cause

    Thursday With Joan Bonny: Make them all but best resolutions are ones you do for yourself, to make you feel better about you

    Thursday With Joan Bonny: Make them all but best resolutions are ones you do for yourself, to make you feel better about you

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    Bebe Cool List 2022: Afrobeat-Reggae Guru Outs His Best of the Year, Takes Leave to Lecture Saha on Good Manners

    Obwakamuswaga Release Official Report on Kijjanebarora Killer Floods, Calls for Help from Government and Elsewhere

    Obwakamuswaga Release Official Report on Kijjanebarora Killer Floods, Calls for Help from Government and Elsewhere

    Thursday With Joan Bonny: When the Stranger Becomes your Hero than the People you are Familiar with, Know Better

    The Lost Friends: You still feel rejected even after trying? It wasn’t to be. You were brave. You tried. But you have to let go now

    Thursday With Joan Bonny: When the Stranger Becomes your Hero than the People you are Familiar with, Know Better

    Know Just How We Impact On Others: I think back to days when a genuine ‘have a good day’ from the store clerk lifted me

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    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
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  • Opinions
    UNBS closes Sunshare factory over failure to comply with Standards

    UNBS closes Sunshare factory over failure to comply with Standards

    UG Pineapple at B&W

    It was Blankets and Pineapple Waragi as SA’s Distruction Boys entertain Kampala

    To Connect the Unconnected with Innovations towards Inclusive Growth

    To Connect the Unconnected with Innovations towards Inclusive Growth

    Cindy Sanyu

    Cindy Sanyu to headline Eastern Megafest

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The Flashback: How Arab `Investors` Conned M7 of USD5M after Vanishing with Serena Hotel Title

April 14, 2022
inFeatured
The Flashback: How Arab `Investors` Conned M7 of USD5M after Vanishing with Serena Hotel Title 

President Museveni and Agha Khan inaugurating Kampala Serena Hotel on 10th Nov. 2006 (Courtesy Call)

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At the height of the madness of privatizing public assets, some Tunisian guys posturing as serious investors flew into Uganda. Since investors are guaranteed an unrestrained access to State House, these chaps didn’t encounter any problem when it came to meeting Uganda’s CEO.

Styling themselves as Al-Fourati Brothers, the sharp Arabs upon landing the rare chance of meeting up with the big man with a hat, didn’t beat around the bush. They went straight to their visit` object. “Your Excellency Sir, we are here to buy into Nile Hotel,” the Arabs kicked off the conversation with Museveni.

As the host rolled his eyes, trying to figure out the demeanor and body language of the visitors, and before he could re-join, the Arabs continued, “W’Allah, we are very serious about it… Sir. If only you can give us an opportunity… we are going to turn the facility into a wonder recreation center.”

Insiders now reveal to us how the Arabs’ visit had been arranged by one of the top brokers in town. This broker was in turn working for powerful deal fixers in State House. Following this and other meetings, the President finally caved into handing over Nile Hotel to the Arabs. 

These Arabs were smart enough. They even conned the Old-Man-With-The-Hat into parting with the Title of the facility itself! They left State House chocking on laughter. They didn’t do anything regarding what they had pledged to do in respect of refurbishing the hotel.

After checking out Nile Hotel for days on end without seeing anything going on as far as refurbishing it is concerned, Museveni lost his cool. He summoned the Arabs who kept telling him this and that siasa on each and every successive meeting.

Oh! the rebel in General Museveni rose boiling with anger! He asked for the Title. The Arabs kept dodging him. Yet the president was thinking of talking to Aga Khan or other serious investors to privatize the Hotel to.

After the president had exerted a lot of pressure onto the Arabs to produce the Title, they trotted to courts of law to save the deal from being passed on to other investors.

In the meantime, the Arab conmen also kept the Title securely hidden away. They were now using the Title, of course, as a bargaining tool, you can read blackmailing tool, if you so wish, regarding negotiations going on in court.

With the Arabs hell-bent on confiscating the Title for good yet government was talking to Aga Khan to salvage the bad situation, and given that government didn’t want the embarrassing issue to spill into public arena, the administration finally agreed to buy them out.

As we tried to look back at how the `deal` finally got closed, reliable sources privy to these matters confided in us last night that government parted with a `compensation` in the region of USD5m before the Arabs could finally release the Title.

After securing the same, Tibuhaburwa, son of Late Amos Kaguta then contacted Aga Khan who gladly bought off Nile Hotel, changing the hitherto renowned Amin’s torture dungeon into the now magnificent Serena Hotel and, on 10th November 2006, he officially inaugurated it in the presence of the new owner, His Highness the Aga Khan.

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