
“Details on the ROKO bailout have emerged indicating that the planned purchase of shares by the government will also mean the government injecting operation capital as well as inheriting UGX 130 billion liability from the construction company. Experts advise government to audit ROKO Construction Ltd or risk going down with it” (NBS Television, 08.07.2022).
You know the times are hard when the construction company and engineering company is failing. A company which is dealing with government projects. This company which has been running for generations and has a long history in the Republic. However, it doesn’t mean it’s all shiny.
That’s why the company has ended up to write to the Ministry of Finance, Planning and Economic Development in 2020 asking for financial assistance. As even back then the creditors was suing to get money returned. There was even written a research report back in May 2018, which stipulated the needs for budget control and more oversight over the financials of the company. That could all be reasons for it’s downfall.
ROKO is part of the system and juiced up by deals, which involves high ranking officials. Just like the Dott Services is too. That’s why the company is prominent and is alive. The company is getting favoured and named in deals like the construction of Lubowa Hospital and other profiled construction sites. Therefore, the connections and the high ranking officials are endorsing this one.
That’s maybe why it’s kept alive. Even if the financials are horrific and the results of the company is bananas. There is maybe not much liquidity or assets to begin with. It could just be a mirage and a failing enterprise with a long history. That has happened before and now the deals comes back to haunt it.
What is striking is that the company is filled with scandals not only the hospital, but the likes of the upgrade of the Parliament. Than you have other construction sites that takes years to finish and never get done. If not you have built city markets, which isn’t fitting the traders or the costumers of the traders. There is also terminations of contracts because of shoddy and late work too. So, it is not the ROKO has a clean track-record or anything.
Still, the company is able to win and get huge contracts, which is significant. The sort of wet-dream for any company to get. The sort of constructions that would be sought after and be vital for years to come. However, they are still not able to keep things sustainable. Neither are they able to pay the sub-contractors and others for their supplies. That is why they were sued back in 2020.
Now, the company is struggling and its has a lot of work to do. Like what is really going on with Lubowa and Nakivubo War Memorial Stadium? Is there any movement or was that just some fraudulent paper-work to get some dimes in the coffers?
We know they lost Pearl Marina Estate to another company. In this regard we can wonder if anything is happening with Tourism and Training Institute (UHTTI), which is supposed to be built on Nalufenya road in Jinja.
There is also side stories from 2021 stating that one of the owners of the company is hiding millions of shillings in Switzerland. If that is the case. Then the company is just as corrupt as the State House, which makes sense why they are such good partners to begin with. This whole enterprise is questionable and bailing it out. Only means that their name and practices is needed by the government. Because, they trust each other. Even when the company isn’t delivering or doing what they are obliged to do.
It is just a mess, but a mess that the State House and the NRM is proud off. It is their product and they are vouching for it. That’s why they are bailing it out. Peace.










