The Minister of Tourism, Prof. Ephraim Kamuntu has warned speculators over the allegations that Commonwealth Resort Munyonyo commonly known as Speke Resort Munyonyo was up for sell by government.
The minister made remarks at State House where, the tourism sector had taken investor to meet President Yoweri Museveni.
“Government warns speculators against takeover of Speke Resort. There is no such move; the public should separate Crane bank from the resort. Prof. Kamuntu said. Adding “Much as there is a crisis over Crane bank, government will protect the hotel to avoid disruption of hospitality”
Section of the media has been awash with stories how government had taken over Commonwealth Resort Munyonyo over the allegations that the facility which is owned by Sudhir Ruparelia was up for grabs by government over the Crane Bank saga.
Recently Bank of Uganda dragged Crane bank majority share owner Sudhir to court claiming that he had encouraged in house lending which led to the collapse of the bank.
However, majority of the population have turned against BoU for failure to regulate the third largest bank in the country. Many say BoU failed in its obligation in performing its duties.