Matooke Republic
Saturday, July 19, 2025
  • Home
  • News
  • Entertainment
  • Gossip
  • Features
  • Business
  • Sports
  • Health
  • Photos
  • Relationships
Matooke Republic
  • Home
  • News
  • Entertainment
  • Gossip
  • Features
  • Business
  • Sports
  • Health
  • Photos
  • Relationships
No Result
View All Result
Matooke Republic
No Result
View All Result

Sale was legal: Museveni tells Kamya he can’t help on Simbamanyo matters

Matooke Republic by Matooke Republic
November 22, 2021
in Business
Reading Time: 3 mins read
13
SHARES
Share on FacebookShare on Twitter

Businessman Peter Kamya has been unsuccessful in seeking presidential intervention over Equity Bank’s sale of his prime properties including Simbamanyo House and Afrique Suites.

Kamya wrote to Museveni seeking to have the head of state intervene and reverse the sale of his properties. However, Museveni has responded to Kamya, telling him to seek court redress.

However, it is a conundrum as the court process has been concluded and it is not in his favour. Kamya had already sought court intervention to reverse the sale of his Simbamanyo House to property tycoon Sudhir Ruparelia and Afrique Suites to Luwaluwa Investements.

RELATED POSTS

Kabira Country Club Wins 2025 Tripadvisor Travellers’ Choice Award

The Vista Naguru apartments officially launched to offer luxury housing

Kamya lost the case in the Commercial Court and also lost the Appeal. Court has also ordered him to pay a sum of Shs1.3bn to Equity Bank, Sudhir’s Meera Investments and Luwaluwa Investments as legal costs of the suit.

 In Museveni’s letter to Kamya dated 25th October 2021, copied to the Attorney General, Ministry of Justice and Constitutional Affairs and the Governor, Bank Uganda, the President states that after directing an investigation and getting the report back, he found the sale legal.

“Following the receipt of your complaint to me about the illegal sale of your properties by Equity Bank, I directed the Attorney General and the Governor, bank of Uganda to investigate the complaint and report back.”

“I have since been advised that the sale was legal, since you had defaulted on the payment of the loan and did not deposit 30% of the loan amount as was ordered by Court,” the President said, adding:

“They have further advised that you are at liberty to pursue other remedies in court.”

Kamya told the New Vision in a Saturday interview that his issue was the process of the sale of his properties.

“My issue was not the sale of my property, but the process the bank took to sell them. It didn’t sell them according to the mortgage law. They should have given me the option of getting a buyer at a fair price,” Kamya said, adding that he intended to meet the President again and explain his side of the story.

Sudhir has since renamed Simbamanyo House that is located on Lumumba Avenue Gender & Labour House.

Related

Tags: Simbamanyo
Share5Tweet3Send
Matooke Republic

Matooke Republic

Freshly peeled info from area code 256

Related Posts

Court orders Simbamanyo to pay Shs1.3bn in legal costs as Sudhir rebrands building to Gender & Labour House

by Matooke Republic
4 years ago

...

 BoU report to Museveni indicates Simbamanyo had been receiving rent but not servicing loan since  2016

by Matooke Republic
4 years ago

...

Kamya runs to Museveni over Simbamanyo, blames Covid but records indicate he was receiving rent in lock-down and not servicing his Equity Bank loan

by Matooke Republic
4 years ago

...

Former Simbamanyo owner Kamya loses another multi-billion property case

by Matooke Republic
4 years ago

...

Sudhir renames Simbamanyo Gender & Labour House

by Matooke Republic
4 years ago

...

Next Post

Sheikh Muhammad Galabuzi appointed new Supreme Mufti

Cheptegei on final list for Male World Athlete of the Year 2021

RECOMMENDED

Denim Cartel and Guinness Smooth are throwing a cultural moment this Sunday

July 18, 2025

Kabira Country Club Wins 2025 Tripadvisor Travellers’ Choice Award

July 18, 2025
  • 643 Followers
  • 23.9k Followers

MOST VIEWED

  • Here is how to use NIRA’s new online portal to register or renew your national ID

    4005 shares
    Share 1602 Tweet 1001
  • DNA test confirms late MP Ssegirinya was father to only 4 of 9 children presented after his death

    103 shares
    Share 41 Tweet 26
  • Properties owned by late billionaire Aponye at risk of auction over Shs15 billion loan arrears

    80 shares
    Share 32 Tweet 20
  • Socialite Don Chris says no one can arrest him after allegedly defrauding Ugandans of over Shs500 million with fake promises of high-paying jobs in UK and Canada

    48 shares
    Share 19 Tweet 12
  • Muhoozi announces meeting with all First Sons of Uganda’s former Presidents; but who are they and what are they currently doing?

    43 shares
    Share 17 Tweet 11
Matooke Republic

Uganda's only free Newspaper. Out every Thursday. Freshly peeled info. kiwatule, Kampala, Uganda.

  • Home
  • News
  • Entertainment
  • Gossip
  • Features
  • Business
  • Sports
  • Health
  • Photos

© Matooke Republic 2024

© Matooke Republic 2024

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.