Hassan Basajjabalaba appearing before COSASECity businessman Hassan Basajjabalaba has told Parliament’s Committee on Statutory Authorities and State Enterprises (COSASE) that he holds a 49-year lease to manage Kampala City Square and is demanding Shs87 billion from government as compensation for terminated contracts.Appearing before the committee chaired by Muwada Nkunyingi, Basajjabalaba said the 2.5 acres of City Square were first leased to him in 2001 for five years and later extended to 49 years through his Haba Group of Companies, for which he paid a premium of Shs1.65 billion.He said the property is part of several public markets and spaces he acquired including Nakasero, Owino, and Shauri Yako.Basajjabalaba told MPs he is unaware of reports that the same City Square land has been given away to another private developer and defended his claim when tasked by the chairperson.On the controversial compensation, Basajjabalaba denied receiving Shs140 billion as cited in the Auditor General’s report for FY2024/25.According to him, government in 2006 leased him markets and public spaces in Kampala after he paid leases and ground rent, before Cabinet summoned him to negotiate compensation and exit when government policy shifted to have KCCA manage its own properties directly.He said it is him who is demanding payment from Bank of Uganda, and claims that he is supposed to refund money to BoU are false.Basajjabalaba asked COSASE to fast-track finalization of the Shs87 billion compensation, noting that this is the third probe into the matter after previous inquiries in 2011 and 2016.The committee is scrutinizing the Shs140 billion payment reportedly made by Bank of Uganda following government’s termination of contracts for private managers of public properties.The post Bassajjabalaba: I Hold 49-Year Lease on City Square, Govt Owes Me Shs87bn For Terminated Contracts appeared first on Business Focus.