Our news desk has received reports stating that renowned controversial Masaka-based businessman, Emmanuel Lwasa, has had his club tavern kick in Masaka seized by the Equity Bank.
According to the reports, Emmanuel Lwasa obtained a loan from Equity Bank with the intention of boosting his various business ventures.
Unfortunately, the outcome was not as anticipated, and the funds he acquired did not yield the desired results hence failing to pay the money in the agreed period.
In an attempt to recover the loaned amount, the bank has taken possession of some of Lwasa’s assets, including his Tavern Kick Club located in Masaka.
To facilitate the potential sale of the property, the bank has prominently displayed its contact information on the premises.
This move by the bank has caused quite a stir in the local community, as Tavan Kick Club was a popular hotspot for entertainment and social gatherings.
Many residents are disappointed to see the club being seized, as it was a beloved establishment that had been a part of the community for years.
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It is unclear at this time whether Lwasa will be able to negotiate with the bank to regain ownership of the club or if it will be sold to a new owner.
