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    Finance Trust Bank In Trouble For Selling Client’s Multibillion Home…

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    Justice Cheborion Barishaki of the Court of Appeal has stopped Finance Trust Bank Limited from executing judgment orders against one of their clients multibillion home.

    John Alinda and his travel company the Beeline Travel Care Uganda Limited filed an application seeking stay of the execution of the orders issued in favor of the bank by Jane Alividza the judge of the Commercial Division of the High Court Kampala in September 2020.

    In his affidavit, Alinda told Court through his lawyers led by Peter Mulongo that he will suffer irreparable loss and his family will be left homeless if his application is not granted.

    He added that he filed the notice of appeal in the court of appeal to challenge the trial judge’s judgment because she erred in law and fact but court delayed to give him the certified records of proceedings.

    He pleaded with court that if his application is not granted, his appeal will be rendered nugatory as the status quo of the subject matter of the appeal will be altered substantially. He noted that the court has already granted a warrant of arrest and a warrant of vacant possession to the bank.

    He informed court that he has paid Shs17,000,000/= (Uganda Shillings Seventeen Million) as security and also deposited Shs2OO,OOO/= (Uganda Shillings Two Hundred Thousand) in court as security for costs which is sufficient.

    However, the bank challenged the application based on the affidavit of  Ssabwe Stephen, the Recovery Supervisor who told court that the application was a glaring abuse of the court process and was brought after inordinate delay, misguided and was intended to frustrate the bank’s right to realize the fruits of the judgment.

    He added that the bank had already sold off the said property to  James Nkalubo who opened a law suit against the bank at the Commercial Division of the High Court claiming damages and other remedies from the bank for failing to hand over vacant possession of the suit property.

    He noted that the applicants will not in any way suffer irreparable loss if the Court declines to grant their application since the bank had the order for more than 2 years and the applicant did not bother to appeal or stay execution until the bank started the execution process.

    However, Alinda told Court that he could not file an application for stay of execution since there was no execution that had been commenced by the bank and the file got misplaced at the Commercial Division of the High Court. It was the bank’s lawyer who requested Court to create a duplicate file.

    He insisted that his appeal has high chances of success and merit.  He told the Court that by the time the bank sold his property, there was a valid interim order and as such the applicant’s request for an opportunity to exercise his right of appeal which if not granted, the property will be sold off.

    He challenged the bank’s lawyers to provide proof that the contested property was sold as alleged, insisting that even the said case filed against the bank by Nkalubo is not there.

    He noted that the judge during trial at the High Court clearly indicated that the bank never accounted for the monies received from the impugned illegal sale.

    He stated that whereas the bank claimed that it demanded Shs148,000,000/= as the loan balance, the property was sold for Shs250,000,000/  which they never accounted for nor handed over the balance to him.

    He noted that the Registrar of the Commercial Court issued an interim order restraining the bank from advertising and selling the mortgaged property being occupied by him until March, 20th but the bank disobeyed the said order and on 2nd March of 2018 they entered into a sale agreement of the suit land with Nkalubo well knowing that this was against the Court order.

    Court of Appeal Judge agreed with Alinda that if the orders of the High Court are executed, then he will suffer irreparable loss and the said loss shall leave him and his family homeless after the eviction, unless it is receded.

    “I find that the property in issue is a residential home where the 2nd, applicant and his family reside. The applicant is likely to suffer irreparable damage if execution is effected and the house is sold” the judge stated.

    The Justice further noted that the bank didn’t show court any evidence showing that the contested property was sold and whether the alleged lawsuit against the bank was instituted in the Commercial Division of the High Court.

    “An order for stay of execution of the judgment and orders in Originating Summons No.18 of 2018, Finance Trust Bank V Beeline Travels Care (U) Limited and Alinda John is hereby granted pending the hearing and final determination of Civil Appeal No.62 of 2023,” the Justice stated.

     

    By Sengooba Alirabaki

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    MY MONEY

    Minister Kabanda Panics As Traders Plan To Front Ssekitto To Battle Her For Kampala Central MP Seat…

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    KACITA'S Issa Ssekitto and Minister Minsa Kabanda

    Kampala City Traders Association (KACITA) spokesperson Issa Ssekitto has confirmed that come 2026, he is pondering contesting for the position of Kampala Central Division Member of Parliament as an independent.

    Ssekitto revealed that his decision was based on the number of requests he has received from desperate traders who think that the only way to fight bad policies and laws made against them is to have their own in the parliament to argue their case.

    It should be noted that when traders met President Museveni in May 2024 at Kololo independence ground, they warned legislators in parliament who have been passing laws against them that they are going to sponsor their own candidates against them come 2026.

    They claimed that the legislators and other leaders who they showered with votes in the previous elections have betrayed them and it is high time they take over the country’s leadership.

    Sources inside KACITA told theGrapevine that Nagenda Musoke their chairperson also plans to stand for a Member of Parliament in one of the constituents in Mukono district.

    John Kabanda also plans to stand as councilor representing Kampala Central Division on the Lord Mayor’s Council.

    The traders insist that Kampala city and Metropolitan senior minister Hajjat Minsa Kabanda has not helped them as a minister and accuse her of sidelining with their tormentors, especially the Uganda Revenue Authority (URA).

    Since 2023, Minister Kabanda has been conducting clandestine political mobilization to replace Muhammad Nsereko who declared that he is not going to contest in 2026.

    Because of Kabanda’s declaration, Bobi Wine’s elder brother Fred Nyanzi Ssentamu shifted his interest from contesting for Kampala Central MP Seat to Lord Mayor fearing that chances are high that Kabanda will defeat him.

    Traders want parliament to remove EFRIS and reduce taxes on commodities especially imported items.

    However, President Museveni assured them that his government will not accept their prayers because they are against the country’s development.

     

    By Hadijjah Namagembe

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    CELEBRITY GOSSIP

    Bank Bosses In Trouble For Allowing Sanctioned M7 Gov’t Official To Access Money On Her Account..

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    L-R: Agnes Nandutu, Goretti Kitutu and Speaker Anita Among were all recently sanctioned

    The Western powers have kicked off investigation into allegations that bank bosses in Kampala allowed President Yoweri Kaguta Museveni’s sanctioned government officials to access and use their financial services.

    Sources in one of the top banks intimated to theGrapevine that their boss has been summoned at their bank headquarters in the United Kingdom to record a statement detailing how the incident happened and why.

    Sources claim that this senior government official was informed early that President Museveni was briefed about her sanctions and when she asked her lawyers what the sanctions meant, they quickly advised her with immediate effect to rush to the bank and withdraw her money which she did.

    “She came herself and withdrew her money and went with it, but we don’t know whether our bosses were already informed about the sanctions,” a source said.

    This bank source narrated to us a scenario where the former Inspector General of Police Gen. Edward Kale Kayihura’s close relative was denied the opportunity to open a bank account in their bank on grounds that his father was sanctioned and their bank was not allowed to do any financial business with him.

    Recently, the State Minister for Lands Dr. Sam Mayanja revealed that retired High Court Judge Moses Mukiibi told him that because of the sanctions, he could no longer access his money in the banks.

    He added that they asked President Museveni to intervene.

    However, the judiciary last week issued a statement noting that Justice Mukiibi is receiving his retirement benefits as a retired judge.

    Veteran journalist Joseph Tamale Mirundi explained that western powers give a sanctioned official six months to clear whatever they have in their respective countries including repatriating their relatives from their countries.

    But Alex Waiswa Mufumbiro, the National Unity Platform (NUP) deputy spokesperson said that the sanctions take immediate effect and all the money on bank accounts and properties of the sanctioned persons in foreign countries is frozen immediately when the sanctions are announced.

    Mufumbiro’s explanation was supported by a powerful security officer who told theGrapevine that recently, President Museveni posted one of his sanctioned security chief to one of the neighbouring countries; however this officer failed to access his bank account and when he tried to fix his ATM card into the ATM machine, it was swallowed by the machine and he immediately called Museveni pleading with him to withdraw him from the said country.

    Recently, the United Kingdom sanctioned Annet Anita Among the speakers of parliament, Agnes Nandutu the former State Minister for Karamoja affairs and Mary Goretti Kitutu the former senior minister for Karamoja affairs.

    Other government officials who were sanctioned include; Gen. Kayihura, Lt. Gen. Peter Elwelu, Maj. Gen. Abel Kandiho, Maj. Gen. Sabiiti Muzeyi, Maj. Gen. Don Nabasa and a number of others including members of parliament.

     

    By Sengooba Alirabaki

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    MY MONEY

    Leaders Of Traders Panicking After M7 Directs Investigation Over Allegations Of An Invisible Foreign Hand Fueling Their Strikes To Sabotage Economy…

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    L-R: Some of the leaders of traders: Godfrey Katongole, David Kabanda and Thadeus Musoke

    Kampala Metropolitan Senior Minister Hajjat Minsa Kabanda has exclusively confirmed to theGrapevine that president Yoweri Kaguta Museveni has directed the country’s intelligence organs and Kampala Capital City Authority (KCCA) to investigate the alleged invisible hand behind traders’ leadership.

    She explained that preliminary investigations have established that some leaders of traders who are advocating for endless strikes are biased in their decisions because there is an invisible hand pushing them with an agenda of sabotaging the country’s economy and creating an ungovernable situation.

    “We know whatever they are planning. Our people are on ground, so they should stand warned,” Kabanda said.

    She revealed that President Museveni was shocked to establish that in Kampala city alone, traders have more than 30 associations and each one of them has command.

    This has created suspicion and the need for an investigation to establish their true motives.

    The development comes at a time when traders are threatening to go into a two months strike without opening their shops in the city center if president Museveni doesn’t address their demands including the banning of the Electronic Receipting and Invoicing System (EFRIS).

    On 7th May 2024, Museveni directed Uganda Revenue Authority (URA) to sit down with leaders of traders and sort out their differences.

    The President guided that once these leaders and URA agree, they should make a joint report which they should read to him and other traders on 20th of June 2024 at Kololo independence grounds.

    However, before that meeting, Minister Kabanda has disclosed that Museveni is set to meet leaders of traders in the State House to have some issues sorted out noting that government is doing everything in its power to make sure that what happened on 7th May 2024 never happens again.

    She explained that it was bad for traders to shout at the President and embarrass senior government officials to the extent of accusing some of corruption insisting that traders’ behavior sent a warning signal to government that there must be an invisible hand influencing and facilitating them.

    theGrapevine has established that the leadership of Kampala City Traders Association(KACITA) led by Thadeus Musoke Nagenda, Federation of Uganda Traders Association(FUTA), Katukazane Shoe Dealers, Kampala Arcaders Advocacy Forum, United Arcarders Traders Enterprenuers Association,  Uganda Needy and Squatters Association have resolved to join hands and strategise on how to come up with a common voice before the President.

    Highly placed sources in intelligence have revealed to theGrapevine that all eyes are on David Kabanda who is being investigated for working for some opposition bigwigs who promised him support in the coming elections.

    Sources said that Kabanda wants to become the city councilor on Lord Mayor Ssalongo Erias Lukwago’s council.

    However, veteran journalist and the Senior presidential advisor on media Joseph Tamale Mirundi advised Museveni not to take lightly statements made in the United Kingdom’s House of Lords that King Charles’s leadership should influence regime change in Uganda.

    He explained that the western powers are going to use all the available means to sabotage Museveni’s leadership insisting that there is invisible hand in traders’ frequent strikes.

    But a section of KACITA leadership told theGrapevine that there are people in President Museveni’s government who are facilitating the creation of endless traders associations with the aim of benefiting from them and fighting the unity among traders.

     

    By Sengooba Alirabaki

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