Kampala Serena Hotel has sold 20% of its shares to the National Social Security Fund for $1.95m (about sh3.5b).

The Hotel owned by an investment arm of the Aga Khan,, the Tourism Promotion Services and by a French property consultancy firm, Proparco is the former Nile Hotel and the International Conference Centre.

The plan by NSSF to bu the shares was a high-yielding investment fund, intended to pay better returns to workers, the savers of Uganda, said the Managing director Chandi Jamwa
Kampala Serena hotel, started operating in July 2006 and has during this time registered a 74% occupancy against the expected 65% rate since the beginning of the year 2007.

By Kisibo Jackie
Uganda Hotel News