President Yoweri Museveni on Thursday, 8th/ September/2022 commissioned the 72-million-dollar SOLANA lifestyle and Residences housing estate built by the National Social Security Fund and Used the occasion to appeal to all Ugandan’s to understand the importance of raising joint and collective capital which he said was the only way society can finance and undertake big projects.
The SOLANA housing project is located in Lubowa, off Entebbe road in Wakiso district. The 72 million housing project which is the first phase of the 10year housing project that will be on 600 acres when completed, has 300 houses on 60 acres of land. The housing units include bungalows, apartments and villas among others on.
The President said Ugandans need to grow into the culture of growing joint capital and be able to do big ventures, the president reminded Ugandans that the National Social Security fund has been able to undertake big projects country wide, overtime because of the collective savings of the Ugandan workers.
“Collective saving is important that’s how Capitalist developed their countries by floating shares and raising capital to do big investments and venture that they could not do individually “the President said.
President Museveni further said that because of the need to raise joint capital in the country, the National Resistance Movement government has always promoted and encouraged the formation of Saving and Created Societies (SACCOS) country wide, so that Ugandans can be able to raise capital jointly and do big ventures together without necessarily going to banks for loans that are very expensive.
Posts
0 Comments