Wednesday, 8th November, 2006
News Article
By Sylvia Juuko

Serena wants to partner with NSSF

SHAREHOLDERS of Serena Kampala Hotel have invited the National Social Security Fund (NSSF) to have a stake in the hotel, senior officials have said.

If NSSF takes up the offer, workers will be shareholders in the multibillion shilling hotel. The hotel will be opened on Friday by President Yoweri museveni and the Aga Khan.

“We have invited NSSF to be partners of the hotel and they are performing due diligence,” Mahmud Jan Mohammed, the Managing Director Serena Hotels, said.

“We would obviously welcome it because it would mean that every Ugandan worker would become a shareholder in the company. I hope the due diligence comes out positively,” he said.

The hotel cost over $30.5m and was completed in a record 17 months with changes that include increase in the number of rooms from 80 to 152, rebuilding of the ground floor and part of the first floor, addition of another floor, a new lobby, business centres and replacement of lifts.

Others are additional restaurants and bars, waterfalls, swimming pool, a state-of-the-art health club and recreation facilities.

Addressing journalists after a tour of the facilities on Tuesday, Mohamed said the current shareholders include the Aga Khan Fund for Economic Development in the TPS company and DG, a German development agency.

He said the group intended to improve the International Conference Centre.

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