Kiira motors seeks shs 524 billion to finance five year business plan
Kampala, Uganda | THE INDEPENDENT | Kiira Motors Corporation, a budding indigenous mobility enterprise in the country has presented a 524 billion Shillings proposed business investment budget to the Presidential Affairs Committee of Parliament. Operationalized in 2018, Kiira Motors is fully owned by the Government, and Makerere University with shareholding of 96 percent and 4 percent respectively. But the Ministry of Finance, Planning, and Economic Development appropriated 32.5 billion leaving a funding gap of 99.5 billion. The government has so far capitalized the Corporation to the tune of 335 billion Shillings for the period between 2018 and 2023. As of March 2024, construction of the vehicle plant start-up facilities is at 86 percent completion and is projected to be ready for commissioning by October.
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