Whether President Museveni’s strategy for the market vendors to own the markets in Kampala was based on winning votes or getting the land to a few, now the truth that can befall such a gamble is being witnessed following part of St. Balikudembe market being fenced off by a bank for a liability of shs 5bn! This is double loss to these market vendors as they don’t seem to have any way of recovering this land, only if the President uses tax payer money to pay the debt.
What was wrong with this type of undertaking is the ability of the current managers. Fund funds ought to be managed by people with enough books in investment management. 2ndly, it is not clear why these markets should not be owned by Kampala Capital City Authority (KCCA), given that anybody willing to work would just get a stall as long as there are some free one’s and then he pays the dues of the market. This does not in any way stop vendors willing to cooperate in form of pooling savings for whatever they may wish to undertake. I think this is a lesson to learn from which should help get all the city markets under KCCA management.
What was wrong with this type of undertaking is the ability of the current managers. Fund funds ought to be managed by people with enough books in investment management. 2ndly, it is not clear why these markets should not be owned by Kampala Capital City Authority (KCCA), given that anybody willing to work would just get a stall as long as there are some free one’s and then he pays the dues of the market. This does not in any way stop vendors willing to cooperate in form of pooling savings for whatever they may wish to undertake. I think this is a lesson to learn from which should help get all the city markets under KCCA management.
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