Roko Construction Limited has declined a request from the Leader of Opposition, Joel Ssenyonyi to conduct an oversight visit to its premises.
The company, in a statement released on October 10, 2024, confirmed that it had notified Parliament of its decision to respectfully decline the visit. The request was made for an oversight visit scheduled on October 14, 2024, but Roko cited sufficient government oversight measures as a reason for declining the visit.
In the statement, Roko Construction clarified that while the Government of Uganda (GoU) holds a preferential shareholding in the company, this stake does not come with voting rights. However, the government’s investment entitles it to a fixed annual dividend, and the company is set to repay this investment over a period of eight years. Roko expects to achieve the desired level of sustainability within this time.
“The Government of Uganda exercises oversight of this investment through two GoU representatives who sit on the Roko Construction Board and chair the Audit Committee, ensuring effective internal controls within the company,” the statement reads in part.
Furthermore, the Government of Uganda exercises its oversight of the investment through two representatives who sit on Roko’s board. These government-appointed representatives also chair the company’s Audit Committee, ensuring that effective internal controls are in place and monitored regularly.
This decision comes amid heightened scrutiny of public-private investments in Uganda, with opposition figures raising concerns about transparency in government dealings with private firms. However, Roko has emphasized the existing mechanisms in place to maintain accountability, noting the direct involvement of government representatives in the company’s oversight processes.
As Roko continues its efforts to maintain sustainability and repay the government investment, it remains a critical player in Uganda’s construction sector, benefiting from both private and public sector engagements.
The response from the Leader of Opposition regarding the declined oversight visit has not yet been made public.
