Breaking News :

China Seize Ugandan Airport Over Unpaid Debt

Many Africans are stunned as China Seize Ugandan Airport and other Assets belonging to the Ugandan government.

The News came as a shock to people as the government of  Uganda failed to pay the loan which was borrowed from a Chinese bank in 2015.

According to a report from Sahara reporters ,China Seizes Ugandan Airport after a Chinese bank known as the Export-Import Bank of China,

also known as Exim Bank, took over the Entebbe International Airport and some other assets that were of great value to the government of Uganda.

According to reports from Sahara reporters, due to the inability of the government of Uganda under the administration of President Museveni tried to strike a new renegotiation with the Chinese bank but of course, the renegotiation wasn’t accepted by the Chinese firm.

The Ugandan government reportedly borrowed 207 million Naira dollars from a Chinese bank ( Exim Bank) in 2015 and for the past 6 years, the government failed to honour the agreement and hence, it led to the seizure of Entebbe international airport.

It was reported that the Entebbe international airport is the only International Airport in the Ugandan territory and this would be a great setback to the people of Uganda.

As China Seizes Ugandan Airport, Reports revealed that the 207 million dollars borrowed by the Ugandan government were for the expansion of the Entebbe Airport which unfortunately slipped into the hands of the Chinese.

Matia Kasaija, the Ugandan minister for finance apologised to parliament for the inappropriate utilisation of the loan from the Chinese Exim Bank which was aimed at being used to expand the Entebbe International Airport.

The Entebbe international airport in Uganda records more than 1.9 million travels in a single year and being the only International airport in the country ( Uganda), one could see the valuable assets the people of Uganda had lost to the Chinese government.

The seizure of the airport by China would become a great embarrassment to the image and prestige of the 77-year-old President Museveni.

The setback currently experienced by the Ugandan people could be an eye-opener to the other African countries that depend on endless borrowing to finance a project.

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