Amos Nzeyi
Encyclopedia
Amos Nzeyi is a Uganda
n businessman, entrepreneur
and industrialist. He is one of the wealthiest people in Uganda.
sold a parcel of land measuring 464 acres (1.9 km²), at a price of US$12,000 per acre to the National Social Security Fund (NSSF). The total price came to US$5,568,000. Subsequent inquiry into the transaction, commonly referred to as the Temangalo Saga discovered irregularities in the way the transaction was conducted. Both the Managing Director of the NSSF and his deputy were fired on account of the transaction.
In a subsequent cabinet reshuffle, Ezra Suruma
, the Minister of Finance, whose ministry was responsible for supervising and approving the transaction, was dropped from the Cabinet
. As of March 2010, the saga is not yet resolved. 272 acres (1.1 km²) of the land in question, including one of the personal residences of Amos Nzeyi that sits on that land, has yet to be transferred to NSSF, despite having paid for it in 2008]
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
n businessman, entrepreneur
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
and industrialist. He is one of the wealthiest people in Uganda.
Business Interests
Amos Nzeyi owns the following business either wholly or in part:- National Bank of Commerce (Uganda)National Bank of Commerce (Uganda)National Bank of Commerce is a commercial bank in Uganda. The bank provides banking services to individuals and to small and medium business enterprises...
- He is the former Chairman of the BoardChairman of the BoardThe Chairman of the Board is a seat of office in an organization, especially of corporations.Chairman of the Board may also refer to:*Chairman of the Board , a 1998 film*Chairmen of the Board , a 1970s American soul music group...
and owns 40% of the bank's shares - Crown Beverages Limited - Bottlers of Pepsi ProductsPepsiCoPepsiCo Inc. is an American multinational corporation headquartered in Purchase, New York, United States, with interests in the manufacturing, marketing and distribution of grain-based snack foods, beverages, and other products. PepsiCo was formed in 1965 with the merger of the Pepsi-Cola Company...
- He is Chairman of the Board. - Hot Loaf Bakery - A private bakeryBakeryA bakery is an establishment which produces and sells flour-based food baked in an oven such as bread, cakes, pastries and pies. Some retail bakeries are also cafés, serving coffee and tea to customers who wish to consume the baked goods on the premises.-See also:*Baker*Cake...
in KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
, UgandaUgandaUganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
- He is the Chairman of the Board - White Horse Inn - A private hotel in KabaleKabaleKabale is a city in Western Uganda. It is the 'chief town' of Kabale District and the district headquarters are located there. The district is named after the town.-Location:...
, Uganda - He is the proprietor
Other responsibilities
Besides his personal business interests, Amos Nzeyi has the following public, fiduciary responsibilities:- He is a former member of the Board of DirectorsBoard of directorsA board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
of the Uganda Development BankUganda Development Bank-Overview:The bank began its operations in 1972. Uganda Development Bank is the first development finance institution established by the Government of Uganda. The main objective of UDB is to promote and finance development in various sectors of the economy with particular emphasis on agriculture,...
(UDB)
Controversy
In 2008, Amos Nzeyi, together with his close friend, the Ugandan Security Minister, Amama MbabaziAmama Mbabazi
Patrick Amama Mbabazi is a senior Ugandan lawyer and politician. He is the current Prime Minister of Uganda, a position he has held since 24 May 2011. Prior to his current position, he served as the Minister for Security in the Ugandan Cabinet, from February 2009 until May 2011...
sold a parcel of land measuring 464 acres (1.9 km²), at a price of US$12,000 per acre to the National Social Security Fund (NSSF). The total price came to US$5,568,000. Subsequent inquiry into the transaction, commonly referred to as the Temangalo Saga discovered irregularities in the way the transaction was conducted. Both the Managing Director of the NSSF and his deputy were fired on account of the transaction.
In a subsequent cabinet reshuffle, Ezra Suruma
Ezra Suruma
Dr. Ezra Suruma is a Ugandan economist and banker. He is a Visiting Fellow at the Brookings Institute, in Washington, DC, at the Africa Growth Initiative division of the Institute. He was appointed to that position in April 2010...
, the Minister of Finance, whose ministry was responsible for supervising and approving the transaction, was dropped from the Cabinet
Cabinet of Uganda
According to the Constitution of Uganda, "there shall be a Cabinet which shall consist of the President, the Vice President and such number of Ministers as may appear to the President to be reasonably necessary for the efficient running of the State."...
. As of March 2010, the saga is not yet resolved. 272 acres (1.1 km²) of the land in question, including one of the personal residences of Amos Nzeyi that sits on that land, has yet to be transferred to NSSF, despite having paid for it in 2008]