Government has contracted Ernst and Young, an audit firm to conduct fresh verification of Ugandan traders who supplied goods and services to South Sudan. In May this year, Parliament approved up to Shs900 billion to pay traders who supplied goods and services to war-torn South Sudan between 2008 and 2013.
In 2010, South Sudan and Uganda entered into a mutual agreement which ensured that Uganda clears the debt and treats it as a loan to the government of South Sudan. The money will be paid back within five to 10 years at a six per cent interest rate after the first year.
The MoU signed, covered 10 companies that include; Rubya Investments, Kibungo Enterprises, Aponye (U) Limited, Afro Kai Ltd, Swift Commodities Establishment Ltd, Sunrise Commodities, Ms Sophie Omari, Apo General Agencies, Ropani International and K.K Transporters.
The companies have already been given at least Shs41 billion. Early this year, Mr Keith Muhakanizi, the Secretary to the Treasury halted the compensation process of the 10 companies calling for an independent verification exercise. However, this process was later continued after a meeting held at the Ministry of Finance decided to proceed with the payment of the suppliers.