Struggling Masaka businessman and well-known socialite Emmanuel Lwasa has officially put his popular hangout spot, Club Tavern Kick, on the market in a bid to settle a huge loan with Equity Bank.
Lwasa revealed that both the bar and the land it sits on are going for Shs 2 billion, a move he believes will help him regain financial stability after failing to beat the bank’s repayment deadlines.
According to Lwasa, he borrowed the money to boost several of his businesses but things didn’t go as planned. Despite paying about Shs 500 million, he still owes the bank over Shs 600 million.
Speaking on Kasuku Live, Lwasa confirmed that the building is currently under seizure by the bank, but he managed to negotiate for permission to sell it himself.
He says once he clears the loan, the remaining money will be injected back into his struggling ventures.
This is a developing story, stay tuned for more updates
