Bad Character Records singer Mukiibi Sadat alias Kalifah AgaNaga is on the verge of being imprisoned over Ugx 100M loan.
According to Kalifah Aganaga, he agreed with his colleagues to establish a shoe business in Kampala with each contributing towards the capital.
Since their capital wasn’t sufficient, the group acquired a loan from the bank, with Kalifa Aganaga being the sole signatory.
The singer adds that because one of the business partners was more knowledgeable about goods importation, he was given the funds to import shoes from China.
In an unexpected turn of events, when the colleague went to China, he never returned to Uganda up to now. Kalifah stresses that efforts to trace the colleague’s whereabouts are fruitless, and all his known phone contacts are off.
Kalifa continues by saying that despite his lack of a reliable revenue stream, the bank is putting pressure on him to clear the loan he borrowed.
He mentioned that although he had granted the bank access to his YouTube channel in order to collect revenue and proceeds from his performances, the money wasn’t enough considering the period he had been allowed to pay off the debt.