By Stephen Akabway Jr
Mzee Thomas Katto was a father to a former rally ace, Emma Katto who dazzled the motor sport fraternity with his dare-devil rallying spirit.
Emma Katto left the country about ten years ago and settled in Ghana were he is said to be presently involved in a lucrative oil business.
Mzee Thomas Katto became very famous and turned into a household name after he started the International Credit Bank (ICB) and Sanyu FM radio station.
Katto’s financial institution was located along Nkrumah road near a Post Bank plot and the new building that hosts the Nkrumah Centenary Bank branch.
ICB folded up after Katto reportedly spent the depositors savings to fund his expensive lifestyle.
While Sanyu FM radio station has since changed hands to Sudhir Ruparelia and is currently housed in Crane Chambers along Kampala Road.
Following the Bank’s collapse, the Central Bank led then by the late Nyonnyintono Kikonyogo seized Mzee Katto’s expensive limousine which he was accused of purchasing using the depositors’ saving.
It was alleged that Katto, despite running down a bank, was saved from going to jail since he was a personal friend of the Big Man, Gen Yoweri Museveni.
Apart from running down a bank, Mzee Thomas Katto had a false land transaction to his name.
Spears Motors’ boss, tycoon Gordon Wavamunno was the victim of Mzee Katto’s land scam to which he lost a cool Shs100m.
Katto paid for the non-available land to use to build the headquarters of his ill-fated Nile Bank formerly located at Spears Motors House along Jinja Road.
The land in question belonged to the Catholic Church and was donated to them by the late Uganda’s president, Idi Amin Dada.
Currently, the land in issue hosts Mapeera Building which hosts the headquarters of Centenary Bank located opposite the City Square along Kampala Road.
After learning that Mzee Thomas Katto had scammed him, Wavamunno filed a lawsuit to the High Court.
Ultimately, the court ruled in favor of Wavamunno but Thomas Katto filed for personal insolvency and ended up not refunding Wavamunno’s money.
Mzee Thomas Katto has since died while Mzee Wavamunno is currently indisposed and changed residential address from Munnyonnyo to his farm located in Nakwero village that lies fourteen miles along Gayaza-Kalagi road. (For comments on this story, get back to us on 0705579994 [WhatsApp line], 0779411734 & 041 4674611 or email us at mulengeranews@gmail.com).
