BY BRIGHT NIWAHA
UCU Holdings has got a team of new board members.
The team consists of: Paul T Kyama as the chairperson, Parity Twinomujuni, Joram Kahenano, Bishop James Ssebaggala, Fred Kibeddi, Justice Geoffrey Kiryabwire, James Abola, George Nyeko, James Serufusa, Victoria Kisarale, and ex- officials Dr John Senyonyi and David Mugawe.
UCU Holdings is the business arm of UCU. It was established in 2003 as a legal arm to transact the chartering process of the university before converting into the business arm recently.
The university’s idea of establishing UCU Holdings was to reduce the total dependency on students’ fees. UCU Holdings is supposed to absorb shocks given the fragile economic environment in the country.
During the handover ceremony, the outgoing and acting CEO of the company, Sarah Taboswa Chemonges, highlighted a number of income-generating projects they have initiated during her term including bricks and poultry.
She noted that they have also consolidated the dairy project in Ntawo with the aim of generating short-term income for the company.
Paul Kyama, who replaced Hillary Obonyo as the chairperson of the board, stressed that the company is facing a hostile social economic environment that has prevented it from breaking even.
“But not all hope is lost,” Kyama said, adding, “no matter what the challenges or circumstances are, with the richly gifted new board members with diverse knowledge and skills, we will work hard to achieve the goals of the company.”
He further talked of the challenge of land-grabbing which he said the new board must guard against. UCU Holdings is in charge of managing the university’s land in Ntawo, Mukono which is under threat from land grabbers.
“As a new board, we have to explore ways of dealing with this seemingly intractable phenomenon of land-grabbing whose complexity mutates by day,” Kyamya said. “I’m sure we can try to fix it.”
The new board also set targets on the need to have a management team in place and a strategic plan to inform medium and long-term actions.
The actions include protecting and utilising the UCU Holdings’ land at Ntawo, seeking investors, as well as reviewing finances to specifically explore innovative investment ideas for the company.