The cultural jewel that is Ndere Centre, home of Uganda’s internationally acclaimed Ndere Troupe, is teetering on the brink of foreclosure, despite a Presidential directives aimed at rescuing it from a ballooning debt crisis.
A July 2025 letter from the Uganda Development Bank Limited (UDBL), that the CEO East Africa Magazine has seen, reveals that the government has yet to honour its commitment to settle the Centre’s UGX 10.5 billion loan, putting the iconic institution at imminent risk of asset seizure.
A Debt That Refuses to Go Away
Ndere Troupe Limited, the company behind Ndere Cultural Centre located in Ntinda, Kampala, borrowed UGX 6.8 billion from UDB in 2019 to fund ambitious expansion plans—including a cultural institute, 64-room lodge, and conference facilities. But with cost overruns, delays in construction, and the devastating economic impact of COVID-19, the project stalled and the loan quickly fell into arrears. Today, with interest and penalties, the debt has grown to UGX 10,533,295,014.
President Museveni, in a September 2024 directive, ordered the Ministry of Finance, Planning and Economic Development (MoFPED) to intervene and settle the obligations with UDB. A subsequent meeting at the Prime Minister’s Office on September 24, 2024, reportedly saw a commitment to resolve the matter by December 2024. But as of June 30, 2025, that promise remains unfulfilled.
UDB Issues Final Warning
In a strongly worded letter dated June 30, 2025, and addressed to Ndere Troupe’s founder and artistic director Dr. Stephen Rwangyezi, UDB’s Director of Credit, Samuel Edem-Maitum, warned that the bank had been left with “no alternative but to resume recovery proceedings” due to the absence of concrete repayment timelines from government.
“Despite [the September 2024] commitment, the facility remains non-performing, with no concrete timelines communicated by the Ministry regarding the expected date of settlement,” the letter reads.
“Please avail the Bank with firm timelines within which the loan amounting to UGX 10,533,295,014… will be paid within seven (7) calendar days from the date of this letter.”
“In the absence of a clear and confirmed update… the Bank will be left with no alternative but to resume recovery proceedings, that were previously halted in anticipation of government intervention.”
The tone of the letter suggests that UDB’s patience has run out. Recovery proceedings—likely to include auctioning Ndere Centre’s assets—could resume imminently, unless the government or another party intervenes.
A Cultural Treasure at Risk
Ndere Centre is more than just a building—it is a cornerstone of Uganda’s cultural diplomacy, education, and tourism. Over the past three decades, Ndere Troupe has performed across the globe, representing Uganda with colourful, authentic showcases of African heritage. The Centre has also served as a training ground for young performers and a vibrant venue for international visitors and local events.
Yet, its financial woes have turned it into a cautionary tale about cultural investment gone awry. Insiders say the expansion was poorly timed and lacked adequate safeguards. Compounding matters, the COVID-19 pandemic crippled events-based revenue, even as loan obligations mounted.
Ugandan enterprises urged to explore regional oil and gas opportunitiesDespite this, many viewed the Centre’s national significance as enough reason to merit government protection. The Presidential directive appeared to affirm that view. But almost a year later, the inaction tells a different story.
Government’s Silence
While officials in the Ministry of Finance had earlier indicated that a “bailout structure” was being designed, no funds have been disbursed, and no official update has been communicated to either UDB or Ndere Troupe. In a previous interview, ICT and National Guidance Minister Chris Baryomunsi confirmed that government was exploring options, including converting part of the debt into equity or issuing a grant—but details remain scant, and timelines unclear.
The implications go beyond finances. Over 200 people, including performers, technical staff, hospitality workers, and administrators, depend directly or indirectly on Ndere Centre. For many, it is more than a job—it is a calling.
Dr. Rwangyezi, the heart and soul of the institution, has repeatedly appealed to government, philanthropists, and the public to save the Centre. But as time ticks down, options are narrowing.
What’s Next?
Should UDB resume recovery proceedings, a court-sanctioned auction of Ndere Centre’s prime real estate and assets may follow. Ironically, the Centre’s value—estimated by some to exceed UGX 100 billion—may not be realised in a forced sale, where auction prices could fall far below market value.
That would mark a devastating loss for both the cultural sector and the taxpayer.
Unless a last-minute rescue is mounted—whether by government, private investors, or cultural benefactors—Ndere Cultural Centre may soon go under the hammer.
Final Plea
The latest letter from UDB amounts to a final plea—for clarity, commitment, and action. Without it, one of Uganda’s brightest cultural beacons risks being extinguished not by lack of relevance, but by the failure of systems meant to protect and nurture national assets.
The question now is: Will the government act, or will history record the slow, silent foreclosure of one of Uganda’s greatest cultural achievements?
