NEW SHOCKING DISCLOSURE: Bank of Uganda Deputy Governor Louis Kasekende’s UNDER-DECLARED USD $5.5 Million Dollar EMPIRE REVEALED

By DailyNewsUG Business Correspondent

DAILYNEWS UG |Kampala, Uganda| Mr. Louis Austin Kasekende, a public Servant who is the Deputy Governor (DG) Bank of Uganda, is a man of vast wealth going by the standards of his estate valued at over Sh20.6Bn. His multibillion empire is composed of prime plots of land, plus properties and assets located within various Kampala suburbs.

However, a recent investigative audit into DG Kasekende’s multi-billion empire reveals that he either under-declared or refused to declare most of his properties with the Inspector General of Government, as per the demands of the Leadership Code. A new audit reveals a Public Servant who is enriching himself.

The Audit conducted by Professional City Valuer Bold Capital indicates that DG Kasekende secretly owns several properties which he has intentionally refused to declare with the IGG, something that has left investigators with raised eyebrows as they wonder why he opts not to declare some of his wealth.

Kasekende’s Hidden Wealth

According to investigators, DG Kasekende’s properties range from high to medium class residential establishments enjoying the special amenities that come with their strategic location within the proximity of the city Centre.


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Above: Plot 2A, Naguru

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Above: Muyenga

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Above: Muyenga

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Above: Najjera

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Above: Muyenga

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Above: Kiwature

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Above: Another Mansion in Naguru

  1. Land in Buloba on Block 314, Plot 1738, and measuring 0.809 Hectares.
  2. Land in Buloba on Block 314, Plot 3213 measuring 0.079 Hectares.
  3. Land in Buloba on Block 314, Plot 1427 measuring 2.7 Hectares.
  4. Land in Lower Naguru, East Road, on Plot 38, measuring 0.157 Hectares, worth Shs1.28Bn.
  5. Land in Buloba on Block 314, Plot 1754 measuring 1.624 Hectares.
  6. Land in Buloba on Block 314, Plot 6102, and measuring 0.317 Hectares.
  7. Land in Buloba on Block 314, Plot 1423, valued at Shs432m.
  8. 039 hectares of Land in Busiro on Block 311, Plot 62, Buloba, Bira worth Shs668.5m.
  9. 237 hectares of land in Kyadondo Block 257, plot 887, Munyonyo, worth Shs1.175Bn.
  10. Property in Kyadondo on Block 220, Plot 1128, Kiwatule worth Shs713.6m.
  11. Property in Kyadondo Block 261, Plot 71, measuring 0.552 hectares in Lukuli (Makindye) worth Shs993.6m.
  12. Property in Busiro on Block 287, Plot 300, Sentema, measuring 0.114 hectares, worth Sh25m.
  13. Property in Busiro Block 382, Plot 76, measuring 0.304 hectares, worth Shs85m.
  14. Property on Kibuga Block 8, Plot 329, Rubaga, measuring 0.494 hectares, worth Shs1.27Bn.
  15. Property in Kyadondo Block 257, Plot 881, Munyonyo, measuring 0.168 hectares, worth Shs228.5m.
  16. Property in Kyadondo, Block 255, Plot 990, Munyonyo measuring 0.168 hectares valued at Shs832m.
  17. Property in Kyadondo on Block 111, Plot 1344, Lubata (Kiteezi) measuring 3.684 hectares, worth Shs1.181Bn.
  18. Property in Kyadondo, Block 244, Plot 7255, Kisugu, measuring 0.239 hectares, worth Shs850.2m.
  19. Property in Busiro, Block 321, Plot 38, Buloba, Kalambi measuring 3.100 hectares, worth Shs1.102Bn.
  20. Property in Kyadondo, Block 261, Plot 1006, Makindye, measuring 0.482 hectares worth Shs867.6m.
  21. Property in Kyadondo Block 215, Plot 1678, Kulambiro, measuring 0.198 hectares, worth Shs282.9m.
  22. Property on Plot 38, Lower Naguru East Road, measuring 0.373 hectares, worth Shs1.394Bn.
  23. Property in Kyadondo, Block 244, Plot 599, Kabalagala, measuring 0.247 hectares worth Shs1.569Bn.
  24. Property in Kyadondo, Block 218, Plot 457, Najjera, measuring 1.200 hectares, worth Shs1.784Bn.
  25. Property in Busiro, Block 314, Plot 1423, Buloba, Bira, measuring 1.458 hectares, worth Shs320.7m.

Kasekende’s Declaration at IGG’s Office

Despite the expose about indicating Kasekende’s declared and undeclared properties, we now bring you details of his declaration form. He made the declaration on January 18, 2015, stating that he earns an annual salary of Shs 559,848,000, with allowances per annum of Shs162,098,748. His other sources of income; Rental Income, Pension from AFDB and BoU.

Bank Accounts:

  1. SCB (U) LTD, Speke Road in names of Louis & Edith Kasekende; Current Account No. 0100110288700.
  2. SCB (U) LTD Speke Road, in names of Louis & Edith Kasekende Current Dollar Account No. 8700110288700.
  3. SCB (U) LTD Speke Road in named of Louis and Andrew Kasekende Current Dollar Account No. 8700114628200.
  4. BankFund Staff Federal Credit Union Washington in names of Louis Kasekende, Member Number 4181806.

Kasekende’s Declared Properties

The following are some of the properties that Kasekende declared to the IGG’s office;

Developed Assets/Vacant Land

  1. Ggaba Vol. 2967, Plot 3, Gaba Close (coowned with A. Kasekende) bought at Shs500m in 2009, current value Shs2.1B.
  2. Plot 1475 Lubowa estate Wakiso (Coowned with E.Kasekende) bought at Shs87m, in 2005, valued at Shs2.0B.
  3. Plot 12 Corporation Road Ntinda bought at Shs100m in 1988, valued at 0.39B.
  4. Plot 2 Bukoto Rise Naguru bought at Shs350m in 1997, valued at Shs1.3B.
  5. Plot 2B Makindye Lane bought at Shs450m in 2003, valued at Shs2.0B.
  6. Plot 706, Block 314 Buloba bought at Shs1.5m, valued at Shs0.5B.
  7. Farm in Bukasa on Plots 1041, 1738, 1423, Block 314, with cattle and Matooke bought at Shs57.8m but now valued at Shs500m.

Vehicles: Kasekende declared three vehicles which include;

  1. Mercedes Benz ML350 UAG 922 bought at USD 42,000 now valued at Shs30m.
  2. Mercedes S320 UAK 150Q bought at Shs48m now valued at Shs20m
  3. Toyota Hilux UAF 840Y bought at Shs19m now valued at Shs10m

Source of Income

He stated his source of income as Gratuity payments from BoU, AFDB and World Bank loans, BoU, DFCU, SCB, Rental Income, Savings from Research Grants, Salary, travel allowances, Pension from AFDB and BoU, Mutually agreed separation of allowance from AFDB, disturbance allowance by BoU.


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