Masaka-based businessman Lwasa has explained why he put up his Club Tavern Kick and the entire building where it is located up for sale.
Speaking in a TV interview, Lwasa revealed that he had taken a loan from Equity Bank and believed he would be able to repay it within the agreed period, but the COVID-19 pandemic hit the country, making it impossible to raise the funds.
With a loan of over Ugx 600M, Lwasa tried every possible means to cover it, including reaching out to President Museveni, who promised to help him lift the burden. He, however, hasn’t heard from his office since and decided to put it up for sale.
Another reason Lwasa gave for selling one of Masaka’s popular hangout spots is his newfound Islamic faith. Ever since he became a Muslim, he has confessed that it has become hard for him to manage the club, which contradicts the values of Islam.
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I indeed put Tavern Kick up for sale, along with the entire building. I changed religion, and I find it hard to keep running the bar. Another thing is that I have a massive bank debt. The president promised me when we were opening the mosque in Lwengo, and gave me a minister to be in touch with.
I was pleased, but that is where it ended. I do not know what happened, and the bank is on my neck. If you are running a business, you sometimes get hit by different things, and when I got that loan, COVID hit. My Masaka people came and drank alcohol without paying. I fell into big problems.
Lwasa also revealed that he was selling off his property to take care of his health so that he enjoys his money without the constant illnesses like high blood pressure and diabetes having to disrupt his life.
