Nile Hotel, UDC acquire 49% Stake In Mbarara’s Igongo Hotel
Uganda Development Corporation (UDC), Nile Hotel International Ltd. and Igongo Cultural Center & Country Hotel have signed an agreement to procure 49% shareholding in Igongo Country Hotel and Cultural Center.
Igongo Cultural Centre located at Biharwe along the Mbarara-Masaka highway has emerged as a popular destination for travellers and tourists. Apart from providing hotel services, a section of the complex houses a museum or cultural centre mainly showcasing aspects of the Ankole culture from cattle keeping, food, housing, and dressing among others.
The government’s stake will be run by the state agency; Nile Hotel International Ltd whose business has in the past concentrated in Kampala running Nile Hotel and Conference Centre. The hotel is run under a 30-year concession by Kenya-based Serena Tourism Promotion Services, which renamed it Kampala Serena Hotel in 2004.
Nile Hotel International Ltd manager Joseph Barungi said that the owners of Igongo Hotel applied to the Government to invest in the facility. It is said that the owners of the centre needed a bailout to recover from a financial gap left by a debt that was acquired to complete the 4-star hotel.
Pictured is UDC Executive Director, Dr Patrick Birungi (L), Nile Hotel Int. Ltd. Board Chairman (Mr.Kin Kariisa) and on the right is Igongo’s Dr.James Tumusiime and his wife.