Federation of Motorsports Clubs of Uganda-FMU has cleared one of the clubs oldest debt totaling to UGX 55m that was left behind by the old management.
Speaking during the Annual General meeting held at Lugogo in Kampala on Saturday, the FMU President Dipu Devesh Ruparelia said the debt was a loan taken from Prime Finance Ltd.
Devesh revealed that the federation had signed a Memorandum of Understanding-MoU with Development Infrastructure Limited (DI), an Arua based firm to take motorsport to West Nile.
“DI is providing 100% of the financial muscle to develop 30 acres of land to build a motorsport arena to cater for rallying, motocross, karting and drifting event, while FMU is providing strictly technical support at this initial stage and upon completion, FMU shall own 10% shares from the project,” Devesh said.
The FMU President also said that the Federation intends to review its constitution in the next 4 months so as to streamline governance challenges.
“A committee led by our Electoral Commission chairman shall guide this process to its logical conclusion as soon as possible,” he said.
Despite a lack of resources, Devesh noted that the federation was able to organise round one of motocross, National Rally Champion (NRC) as well as MX round one.