The National Housing and Construction Company Limited (NHCCL) has told Parliament’s Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) that it is yet to establish the rightful shareholder to receive dividends arising from the Libyan government’s 49 percent stake in the company.

NHCCL Chief Commercial Officer, Engineer Kenneth Kaijuka, made the revelation while appearing before the committee, chaired by Kyadondo East Member of Parliament Muwada Nkunyingi.

Kaijuka told the committee that NHCCL is working with relevant government agencies and other stakeholders to resolve the ownership issue.

The committee noted that the company is safeguarding Libya’s 49 percent interest in NHCCL, including the dividends accruing from the stake, until the rightful beneficiary is identified.

Kaijuka further revealed that the company was directed during its Annual General Meeting to reinvest all profits generated by the business as efforts continue to resolve the ownership matter.

Meanwhile, NHCCL’s financial performance report for the 2024/25 financial year shows that the company recorded a total profit of 79.24 billion shillings.

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