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Phaneroo Ministries International, a prominent Ugandan religious organisation, has issued a public statement addressing what it describes as “misleading claims and defamation attacks” concerning its operations and financial dealings.
The statement, released today, comes amid growing scrutiny following revelations of Shs18.5 billion in loans and plans for a $55 million (Shs200 billion) complex.
Phaneroo, founded by Apostle Grace Lubega, has recently become a subject of public interest following the above revelations. Lubega registered the organisation as a company limited by guarantee on September 16, 2014.
A commercial lawyer explained that this structure, often chosen by NGOs, limits liability for owners and requires no upfront capital, only a pledge of support if the company fails.
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Initially, Lubega was the sole owner, but in 2023, he added his wife, Lubega Nicollette Pauline Nakintu, whom he married in 2019, and Okwomi Modesta, a Kenyan, as shareholders.
The ministry’s financial activities have raised eyebrows, particularly after it borrowed Shs10 billion from Equity Bank in August 2024, followed by an additional Shs8.5 billion in October 2024.
These loans, secured using four plots in Naguru and one on the Katale-Kampala road, have sparked questions, especially since some Naguru land is under dispute.
The purpose of the loans remains undisclosed, fueling speculation. In its statement, Phaneroo denied any wrongdoing, asserting that the URSB documents are not new to its members and that it operates as a national non-governmental organisation in full compliance with Ugandan laws, with no shares or shareholders in the traditional sense.
The ministry urged its members to remain united, emphasising its mission to spread the Gospel and transform lives, which it credits for its remarkable growth.
Phaneroo also noted recent attempts to compromise its email communications, framing the scrutiny as part of a coordinated attack on its integrity.
As Phaneroo moves forward with its Shs200 billion church project, these developments have ignited debates about transparency in religious institutions, leaving many Ugandans eager for clarity.