News reaching us indicates that the renowned controversial Masaka-based businessman, Emmanuel Lwasa, has had his club, Tavern Kick in Masaka, seized by Equity Bank over failure to repay his loan.
According to reports, Lwasa obtained a loan from Equity Bank intending to boost his various business ventures. However, it is said that he has failed to repay the money within the agreed period.
In an attempt to recover the money, the bank has taken possession of some of Lwasa’s assets, including his Tavern Kick Club located in Masaka.
The bank has prominently displayed its contact information on the premises to facilitate the potential sale of the property.
Tavern Kick Club which was opened in 2015, is one of the most popular nightspots in Masaka.
The debt was related to advertising services provided by BBS TV. Lwasa had placed advertisements with the media outlet but had failed to meet his financial obligations. However, he was released after settling the debt.