Another mega market to be built in Mbarara City
The current market vendors will temporarily relocate their businesses to alternative sites to make way for the new market construction
MBARARA CITY, November 16, 2024 – Landlords in Mbarara City, under the Mbarara Makhan Singh Market Landlords Association [MMSMLA], have announced plans to construct a state-of-the-art market valued at Shs 40 billion. The announcement of the ambitious project was made at an extraordinary meeting where members unanimously agreed on the terms for its development.
The current market vendors will temporarily relocate their businesses to alternative sites to make way for the new market construction. “Members have agreed to secure alternative space for vendors while the current market is demolished and construction begins,” said Thomas Mukundane, Chairperson of MMSMLA. “We’ve already identified relocation areas for the vendors for the next three years, and we are urging everyone to vacate the current premises to allow the contractors to begin work.”
MMSMLA, which consists of 539 landlords, will each contribute Shs 7 million to help mobilise the funds needed to kick-start the construction of the ultra-modern market.
“We have contracted Planbuild Technical Services Limited in Kampala, a company already equipped with cement and steel bars worth approximately Shs 3.4 billion. They have agreed to provide these materials as a start-up fund while we continue to secure additional financing,” Mukundane added. “Several funders have already expressed interest in the project.”
One of the key prospective funders is the African Export-Import Bank (Afreximbank), which has partnered with Centenary Bank to facilitate the financing of the project. Mukundane also mentioned that Benchmark Solutions Ltd, a consultancy from Kenya, has submitted multiple proposals from potential investors, including those from China, Mauritius, and other countries, willing to fund the construction.
Construction of the new market is set to begin in January 2025 and will take an estimated three years to complete. Mukundane urged the market vendors to be patient as the project moves forward.
“We will begin building temporary structures for vendors next week to ensure a smooth transition,” he said, adding a reminder to MMSMLA members to stop collecting rent fees from tenants as the relocation process gets underway.
Gumisiriza Kyabwisho, Mayor of Mbarara City North Division, expressed full support for the construction of the new market. He noted that the current Makhan Singh Market, situated in the city center, is in a state of disrepair.
“If you look around the city, the only market that stands out with dilapidated structures is yours,” Kyabwisho said. “I urge you to focus on completing this modern market for the benefit of the entire city.”
Kyabwisho also suggested that the MMSMLA leadership write a proposal to President Yoweri Museveni requesting financial support for the project.
Karakure Allan Buhanda, Commercial Officer for Mbarara City, advised MMSMLA to maintain clear and organized records to ensure a smooth transition once the market is completed.
“While you are working hard to build this new market, if you do not keep proper records, you may face challenges managing the number of people seeking to operate from the new Makhan Singh Market,” Buhanda cautioned.
As Mbarara City prepares for this major development, stakeholders are optimistic that the new market will revitalise the city center and provide a modern, functional space for businesses and vendors alike.
https://thecooperator.news/vendors-block-mps-from-visiting-major-market-in-mbarara-city/
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