By Iryn Nandawula
All isn’t well for Bunyoro King Solomon Gafabusa who is on the verge of being arrested for borrowing Shs150m from Prince Kassim Nakibinge’s Tropical Bank and is subsequently failing/refusing to repay. This writer has seen court documents which show how the whole thing started.
THE GENESIS;
On 6th December 2017, the kingdom of Bunyoro Kitara Investments applied for a bank over draft facility of 150m Uganda shillings to Tropical bank. This was to aid in carrying out general business of farming and trade within and outside of Uganda. Tropical Bank alleges that with intention to defraud them, Omukama Solomon Gafabusa and Bamutura Proscovia, passed a decision hence Bunyoro acquired this overdraft facility on 13th December 2017. This overdraft facility was guaranteed by Hon. Prime Minister Lukumu Norman and Bamutura Proscovia.
Upon it’s receipt Hon.Lukumu and Proscovia quickly transferred the funds to a one Byamukama Jonan who later distributed the same to Mageni Godfrey and Nafuye Rodgers. Despite numerous reminders through the bank lawyers AR Advocates, they have failed , refused or neglected to pay back the overdraft facility and fulfil their obligation under agreement and personal guarantees. Tropical bank thus seeks a recovery of 161,048,725m Uganda shillings general damages, interest and costs of the suit which was filed 24th August 2018 with the High Court.
The bank alleges that the breach of contract is due to improper misconduct by the Omukama, Hon.Lukumu and Proscovia who are the minds and brains of the investment company. They are further accused of using the company as a vessel to obtain funds from the bank with no intention of paying back. As a result of their actions, the bank has suffered business and financial loss for which it shall claim several damages.
