By Chris Mwesigye Bishaka
The Archbishop of the Church of Uganda Rt. Rev. Kaziimba Mugalu, has called on over 1,000,000 Anglican believers to contribute 60,000/= UGX each so that the church can pay off 60b loan it owes to Equity Bank the founders of the multi billion church house.
However the author feels that, instead of compelling believers to contribute cash, creating a wall of fame can be a better pragmatic strategy. Below is how he proposes to do it.
Let me break it down further for the COU commissioners.
STEP 1: register Church House as a limited liability company.
STEP 2: divide it into 2 million shares.
STEP 3: let the Church Commissioners and dioceses retain 1 million shares.
STEP 4: sell 50% of the company comprising 1 million shares at Sh.70,000 for a single share. Ensure no single investor buys more than 25%.
STEP 5: raise Sh.70 billion and use part of the money to pay off the bank loan.
STEP 6: give dividends to shareholders at the end of the year from profits made.