The Institute of Certified Public Accountants of Uganda (ICPAU) has officially broken the ground to mark the commencement of the construction project on Plot 42, Bukoto Street Kololo.
This followed the demolition of the old structure on the same property to pave the way for the construction of a new building that supports the Institute’s growth and expansion requirements.
The new ICPAU offices, expected to cost Shs 10 billion, will serve as a central hub for accountants and symbolise their professional achievements.
While officiating at the groundbreaking ceremony on 19 September 2024, CPA Hon. Henry Musasizi, the Minister of State for Finance, Planning and Economic Development (General Duties) emphasised the need for increased cost efficiency in government projects.
Musasizi highlighted the lessons this project can provide for managing government infrastructure efforts, particularly in controlling costs. He urged government engineers to re-evaluate how they calculate unit costs for public projects, noting that discrepancies exist — for example, a road costing 6 billion while a building costs 60 billion. He stressed the need for more effective public spending practices.
Musasizi praised ICPAU for its commitment to advancing the accounting profession in Uganda and acknowledged the Institute's financial independence, congratulating them on raising funds internally for this new project. He assured the Institute of continued government backing for the initiative.
CPA Josephine Ossiya, President of ICPAU explained that the groundbreaking ceremony represented the conclusion of a ten-year plan to expand office space for the Institute’s increasing membership and staff. She stated that as ICPAU grew, it became clear that additional office space was necessary to better serve its members.
Ossiya mentioned that the Institute had prudently saved funds over the years to ensure the project could proceed without delays.
“We aimed to avoid starting the project and then having to pause,” she said.
“With adequate funding in place, we initiated the design process and received the necessary approvals, which took about a year,” she added.
Ossiya also highlighted the importance of engaging certified professionals in large projects, advising project managers to confirm that engineers, architects, and builders are registered with their respective professional organisations.
"Opting not to hire qualified professionals might seem like a cost-saving strategy, but it often leads to higher expenses later on," Ossiya warned.
The project is expected to be completed in November 2025.
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