Tycoon Emmanuel Lwasa Declares Bankruptcy Amidst Debt Woes

By BigEyeUg Team Emmanuel Lwasa, a prominent figure in Uganda’s business circles, has publicly acknowledged his financial insolvency after his properties were seized by the bank due to unpaid debts. Emmanuel Lwasa In a candid interview aired on television, the once-flourishing tycoon lamented, “The bank is seizing all my belongings because I can’t pay my debts. Now, I’m a broke man.” Lwasa’s financial downfall came to light last week when a video circulated on social media showing his Masaka-based nightclub, ‘Tavern Kick,’ being put up for sale by Equity Bank. Reports indicated that Lwasa had failed to fulfill his loan obligations to the bank, leading to the repossession of the property. For years, Lwasa, a native of Masaka district, had been esteemed as one of Uganda’s wealthiest individuals. Bank Seizes Tycoon Emmanuel Lwasa’s Tavern Kick Night Club in Masaka Over Unpaid Loan However, his recent financial troubles mark a significant reversal of fortunes for the once high-flying businessman. The news of Lwasa’s bankruptcy underscores the challenges faced by entrepreneurs in managing their financial obligations, serving as a cautionary tale within Uganda’s business community. We will keep you posted The post Tycoon Emmanuel Lwasa Declares Bankruptcy Amidst Debt Woes appeared first...