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    FULL LIST: Uganda’s Top Tax Payers 2017, Sudhir’s Crane Bank Beats DFCU Bank

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    A new list from Uganda Revenue Authority (URA), of Uganda’s top 273 top tax payers in 2017, shows that Crane Bank paid more taxes than DFCU Bank in 2017 despite the fact that DFCU took over Crane Bank in January of that year as over 270 top companies paid over Shs4.2 trillion.

    In a list led by telecom giants MTN who paid over Shs430 in taxes, Crane Bank paid taxes worth over Shs33.5 billion while DFCU Bank paid taxes of over Shs26.2 billion, putting Crane Bank in position 24th while the latter in 27th.

    It should be remembered that in January 2017, Bank of Uganda (BOU) announced that it had sold Crane Bank to DFCU Bank in a controversial deal worth Shs200 billion after taking over management of Crane Bank in October 2016.

    Kampala businessman and majority shareholder in Crane Bank Sudhir Ruparelia later sued BOU and DFCU Bank for illegally taking over his bank. Specifically, Sudhir said BoU took over his Bank, branches and properties, which it handed over to DFCU bank without proper transfers. But BOU through DFCU, has also sued Sudhir and his Meera Investments, accusing him of fraud that reportedly causing Crane Bank a loss of Shs400bn. The case is pending in court.

    BOU and DFCU also claimed that a lot of the assets of Crane Bank were bad loans, worth Shs550 billion. They claimed that DFCU inherited Shs800 billion worth of good loans from Crane Bank. But DFCU had invested nothing to get the loans worth 800 billion.

    Meanwhile, the central bank claimed then that Crane Bank had non-performing loans (bad loans) worth Shs550 billion and as such claimed they were written off to zero and Sudhir has been asked to pay for all of them. But most of all the so called “bad loans” had collateral, in most cases the best pieces of real estate in Uganda.

    However, DFCU Bank would in mid-August 2017 raise eyebrows in the public as it announced half year net profit of Shs114 billion, up from Shs23.3bn in June 2016. Interesting, more than a year after taking over Crane Bank management, DFCU reported a huge profit of Shs127.6 billion in the year that ended on December 31, 2017 compared to Shs46 billion earned in the same period in 2016.

    Below is the list of the top tax payers

    TAXPAYERNAME  NET URA TAXES
    MTN UGANDA LIMITED        430,954,250,306.30
    NILE BREWERIES LTD        298,341,136,573.00
    UGANDA BREWERIES LTD        191,388,990,619.41
    TOTAL UGANDA LIMITED.        190,650,400,408.00
    TORORO CEMENT LTD        132,545,878,970.47
    CENTURY BOTTLING CO. LTD.        109,671,539,401.50
    BUJAGALI ENERGY LIMITED        108,909,445,123.49
    STABEX INTERNATIONAL LIMITED          87,654,348,739.42
    KAKIRA SUGAR LIMITED          85,879,410,002.59
    BIDCO UGANDA LIMITED          80,369,177,937.81
    HIMA CEMENT LTD          79,145,220,741.49
    STANBIC BANK (U) LTD.          78,955,672,895.50
    SUGAR CORPORATION OF UGANDA LIMITED          78,815,251,399.57
    CROWN BEVERAGES LIMITED          77,043,945,442.87
    NILE ENERGY LIMITED          71,769,071,913.89
    UMEME LIMITED          64,949,526,882.01
    PETROCITY ENTERPRISES (UGANDA) LIMITED          62,934,706,182.20
    KINYARA SUGAR LIMITED          59,619,304,185.58
    BAKHRESA GRAIN MILLING UGANDA LIMITED          42,996,596,637.88
    GAPCO UGANDA LTD.          40,153,787,333.09
    FOL LOGISTICS UGANDA LIMITED          39,330,719,549.24
    PETRO UGANDA LIMITED          35,652,077,750.93
    CRANE BANK LIMITED          33,537,650,756.54
    NISH AUTO LIMITED          30,902,513,087.20
    SADOLINS PAINTS (U) LTD          26,287,555,077.01
    DFCU BANK LIMITED          26,188,499,102.92
    MOGAS UGANDA LIMITED          26,096,552,580.79
    ROOFINGS ROLLING MILLS LIMITED          26,081,508,200.50
    ATC UGANDA LIMITED          25,665,734,562.30
    MOIL (U) LIMITED          24,703,025,484.50
    MADHVANI GROUP LIMITED          24,221,994,434.61
    UNILEVER UGANDA LIMITED          23,705,238,874.51
    QUALITY CHEMICALS LTD          23,656,288,053.00
    STEEL AND TUBE INDUSTRIES LIMITED          23,181,921,927.00
    ROOFINGS LIMITED          21,525,827,383.62
    DIAMOND TRUST BANK UGANDA LIMITED          20,946,738,450.00
    JOHAR IMPEX LIMITED          20,927,990,263.00
    RWENZORI BOTTLING COMPANY          20,319,986,092.93
    KOBIL UGANDA LIMITED          20,208,389,432.00
    GURU NANAK  OIL MILLS (U) LTD          19,081,384,459.08
    A.K. OILS AND FATS (U) LIMITED          19,052,574,324.00
    ORIENT BANK LTD          18,539,340,547.39
    ECOBANK UGANDA LIMITED          18,170,454,817.99
    TULLOW UGANDA OPERATIONS PTY LIMITED          18,053,944,827.01
    EATON TOWERS UGANDA LIMITED          17,693,736,300.91
    TOTAL E & P UGANDA B. V.          16,712,216,379.00
    LEAF TOBACCO & COMMODITIES (U) LIMITED          16,670,788,251.08
    PAN AFRIC IMPEX (U) LIMITED          16,238,795,945.00
    BON HOLDINGS LIMITED          15,850,957,648.81
    MOVIT PRODUCTS LIMITED          15,620,995,339.75
    TPS (UGANDA) LIMITED          15,310,962,578.50
    TATA UGANDA LIMITED          15,093,067,131.00
    TOSHA (U) LIMITED          14,983,261,848.00
    S.W.T. TANNERS LIMITED          14,466,887,466.01
    BAJABER MILLERS LIMITED          13,704,346,530.45
    LIBYA OIL UGANDA LIMITED          13,689,054,534.43
    THE JUBILEE INSURANCE CO LTD          13,346,810,205.01
    ROKO CONSTRUCTION LIMITED          13,222,780,559.01
    JESA FARM DAIRY LIMITED          12,915,743,189.57
    AIG Uganda Limited          12,901,361,767.00
    EAST AFRICAN PACKAGING SOLUTIONS          12,839,209,764.16
    RILEY PACKAGING (U) LTD          12,797,342,259.43
    AFRICA EMS MPANGA LIMITED          12,645,357,451.00
    CHINA CIVIL ENGINEERING C/C          12,613,706,571.49
    STAR DTV (UGANDA) CO.LIMITED          12,542,466,622.00
    MUKWANO INDUSTRIES (U) LTD          12,414,424,237.19
    CHIEF DISTILLERIES UGANDA LIMITED          12,390,510,792.50
    UAP INSURANCE UGANDA LIMITED          12,177,459,428.00
    NILE AGRO INDUSTRIES LIMITED          12,141,484,592.50
    INTERNATIONAL  ENERGY TECHNIK (U) LIMITED          12,100,688,558.00
    OLYMPIC PETROLEUM U LIMITED          11,811,491,382.20
    GAME DISCOUNT WORLD (UGANDA) LIMITED          11,746,391,908.30
    GOLF COURSE GROUP LIMITED          11,645,327,651.34
    NTAKE BAKERY & COMPANY LTD          11,627,340,991.20
    BLUE NILE DISTILLERIES LIMITED          11,363,912,722.83
    COMPUTER POINT (U) LTD          11,295,095,930.59
    MASTER GRAIN MILLING LIMITED          10,911,668,786.75
    NTAKE BAKERY & COMPANY LTD          10,430,137,266.39
    KAMPALA CEMENT CO. LIMITED          10,296,255,724.11
    ESKOM UGANDA LIMITED          10,132,915,311.78
    THE COOPER MOTOR COPORATION (U) LTD             9,737,815,497.97
    GRAPHIC SYSTEMS (U) LIMITED             9,687,772,217.73
    KCB BANK UGANDA LIMITED             9,143,420,030.80
    MULTIPLE INDUSTRIES LIMITED             9,081,345,553.49
    TRANSLINK (U) LTD             9,061,591,542.50
    TATA UGANDA LIMITED             9,027,595,954.00
    A.K. PLASTICS (U) LTD.             8,998,470,271.50
    EUROFLEX LIMITED             8,891,167,178.00
    CABLE CORPORATION LTD.             8,840,597,614.00
    MM INTERGRATED STEEL MILLS (UGANDA) LIMITED             8,810,826,069.00
    DELOITTE UGANDA LIMITED             8,793,410,061.67
    BAYPORT FINANCIAL SERVICES UGANDA LIMITED             8,718,006,843.00
    SAMEER AGRICULTURE & LIVESTOCK LIMITED             8,487,246,165.00
    SHOPRITE CHECKERS UGANDA LIMITED             8,082,163,498.01
    IN-LINE PRINT SERVICES LIMITED             7,586,871,306.00
    HARED PETROLEUM LIMITED             7,576,510,635.63
    BIPLOUS (U) LTD             7,454,374,345.63
    MAYUGE SUGAR INDUSTRIES LIMITED             7,444,429,075.62
    SECURITY GROUP UGANDA LIMITED             7,425,171,987.62
    CITIBANK UGANDA LIMITED             7,276,157,349.07
    BANODA PETROLEUM UGANDA LIMITED             7,261,921,762.89
    SMILE COMMUNICATIONS UGANDA LIMITED             7,109,577,104.00
    HIPPO INDUSTRIES LIMITED             7,098,126,794.00
    TRANSPAPER LTD             6,956,626,868.01
    MANTRAC (UGANDA) LIMITED             6,945,996,869.50
    VISION IMPEX LIMITED             6,944,226,589.01
    SPEKE HOTEL (1996) LIMITED             6,941,822,737.50
    ENTEBBE HANDLING SERVICES LIMITED             6,911,521,405.50
    ENGAANO MILLERS LIMITED             6,863,570,837.00
    ELECTRO-MAXX (U) LIMITED             6,785,423,761.63
    APPLIANCE WORLD LIMITED             6,771,429,134.40
    KENGROW INDUSTRIES LIMITED             6,594,742,437.00
    NAKUMATT (UGANDA) LTD             6,520,191,557.61
    PRIME GENERAL SUPPLY LIMITED             6,332,017,977.12
    RWIMI EP COMPANY LIMITED             6,171,611,156.73
    BIYINZIKA POULTRY INTERNATIONAL LIMITED             6,122,921,579.00
    FARM ENGINEERING INDUSTRIES LIMITED             6,108,701,245.00
    DESBRO UGANDA LIMITED             6,083,823,628.50
    APONYE (U) LTD             6,007,402,981.00
    HEMA BEVERAGES LIMITED             5,873,757,813.50
    PROPERTY SERVICES LIMITED             5,777,788,168.39
    BAO CHANG INTERNATIONAL UG.             5,626,011,541.00
    EXCEL CONSTRUCTION LTD.             5,534,037,328.55
    ABUBAKER TECHNICAL SERVICES             5,430,975,561.00
    SOMOCHEM (UGANDA) LIMITED             5,342,835,756.00
    AFRICA POLYSACK INDUSTRIES LIMITED             5,312,035,412.00
    FOUR STAR BEVERAGES LIMITED             5,308,371,234.68
    TEMBO STEELS (U) LIMITED             5,284,279,745.00
    ACACIA APARTMENTS LIMITED             5,277,758,887.00
    UGANDA CHRISTIAN UNIVERSITY             5,271,966,367.50
    KYAGALANYI COFFEE LIMITED             5,178,877,450.00
    DEMBE TRADING ENTERPRISES LTD             5,161,722,074.00
    SERVICE & COMPUTER INDUSTRIES UG             5,144,536,132.40
    MEGHA INDUSTRIES (U) LTD.             4,986,313,339.99
    BRIGADE DISTILLERIES LIMITED             4,874,594,574.90
    DHL SUPPLY CHAIN INTERNATIONAL LIMITED             4,856,588,937.54
    IMPERIAL BANK (UGANDA)LIMITED             4,845,299,176.23
    COMPUSCAN CRB LTD             4,833,190,891.83
    UNITED BANK FOR AFRICA (UGANDA) LIMITED             4,830,804,506.83
    UGANDA BATTERIES LIMITED             4,811,546,608.01
    AHMED RAZA FOODS INDUSTRIES LIMITED             4,783,809,918.00
    SARACEN (U) LIMITED             4,739,891,549.01
    DERMA INTERNATIONAL LIMITED             4,714,161,853.00
    TASCO INDUSTRIES LIMITED             4,647,431,013.01
    DEMBE TRADING ENTERPRISES LTD             4,534,850,957.23
    GOMBA FISHING INDUSTRIES LIMITED             4,526,722,112.57
    SOLITON TELMEC U LIMITED             4,526,285,826.12
    UGANDA BAATI LTD             4,452,555,256.00
    GENTEX ENTERPRISES LTD.             4,405,901,824.00
    NILE PLYWOODS (U) LTD.             4,250,395,898.00
    AUROMEERA INDUSTRIES LIMITED             4,240,100,387.00
    GRAND VICTORIA LIMITED             4,164,917,566.78
    UNGA MILLERS (U) LIMITED             4,149,598,671.01
    AQUVA INTERNATIONAL LIMITED             4,096,546,075.00
    UNISTRONG INVESTMENT (U) LIMITED             4,087,228,459.01
    KAMULI SUGAR LIMITED             4,084,734,713.00
    BATA SHOE CO. UGANDA LIMITED             4,056,233,424.96
    CAR & GENERAL (UGANDA) LTD.             4,054,437,213.19
    ERNST AND YOUNG             4,044,202,238.40
    SUGAR AND ALLIED INDUSTRIES LTD             4,040,297,966.01
    DRD CONSTRUCTION & ENGIN.             3,987,903,501.00
    NILE FIBREBOARD LTD             3,984,530,228.00
    TILE CENTRE LTD.             3,930,356,573.43
    SHREEJI STATIONERS 2009 (U) LIMITED             3,904,104,708.50
    NICE HOUSE OF PLASTICS LIMITED             3,886,801,791.50
    SKENYA MOTORS (U) LIMITED             3,716,899,144.51
    FORTUNA LIMITED             3,597,364,461.46
    YUVRAJ INTERNATIONAL (U) LTD             3,568,425,737.01
    VERMA CO. LIMITED             3,567,851,011.01
    GENERAL LUBE OIL LIMITED             3,565,312,708.00
    KING ALBERT DISTILLERS LTD             3,501,093,783.70
    RAINBOW INT. SCH (2003) LIMITED             3,490,930,472.50
    INDO-BALI DISTRIBUTORS LIMITED             3,462,732,662.39
    PANYAHULULU COMPANY LIMITED             3,439,602,172.00
    LAKE VICTORIA HOTEL LIMITED             3,411,184,822.19
    DOTT SERVICES LIMITED             3,404,298,033.50
    CAVENDISH UNIVERSITY UGANDA             3,403,731,986.20
    PRAMUKH STEEL LIMITED             3,359,816,852.00
    ZPEB UGANDA CO. LIMITED             3,356,327,849.00
    MT. ELGON MILLERS LIMITED             3,329,629,452.00
    LANDY INDUSTRIES LIMITED             3,324,095,777.50
    A.K. TRANSPORTERS LTD.             3,312,811,409.00
    GEMS EDUCATION UGANDA LIMITED             3,311,658,936.23
    ZTE  UGANDA LIMITED             3,307,418,974.01
    CIVICON LIMITED             3,299,633,648.00
    SCD (UGANDA) LIMITED             3,265,807,593.12
    KIFARU CHEMICALS LIMITED             3,249,675,193.00
    NC BANK UGANDA LIMITED             3,197,056,219.20
    UGACHICK POULTRY BREEDERS LTD             3,172,869,335.01
    CEMENTERS LIMITED             3,161,772,966.00
    AFRICA FUELS AND LUBRICANTS LIMITED             3,152,929,452.00
    QUALITY GAS LTD             3,095,032,314.11
    SOUTHERN RANGE NYANZA LIMITED             3,054,367,161.50
    PEARL DEVELOPMENT GROUP LIMITED             3,051,541,698.00
    SUNBELT TEXTILES COMPANY LIMITED             3,026,493,937.50
    YOGI STEELS LIMITED             2,990,946,919.01
    AMBITIOUS CONSTRUCTION CO. LTD.             2,982,065,755.00
    UGAFODE MICROFINANCE LIMITED             2,956,077,489.01
    ARROW CENTRE (U) LTD             2,937,570,851.00
    MUKWANO ENTERPRISES LTD.             2,907,105,070.11
    AIR SERV LIMITED             2,896,804,760.00
    MEERA INVESTMENTS LIMITED             2,886,138,088.07
    THE NEW FOREST COMPANY LIMITED             2,882,376,114.01
    JAPAN AUTO TRADERS (UGANDA) LIMITED             2,881,645,516.84
    AMKE GLOBAL INVESTMENTS LIMITED             2,849,041,806.58
    SUMADHURA TECHNOLOGIES LTD             2,828,798,577.73
    TUF FOAM (U) LTD             2,818,134,698.00
    ECOBANK UGANDA LIMITED             2,816,040,129.00
    UGANDA BRILLANT PILE INDUSTRIAL CO.LTD             2,813,184,831.01
    HYDROMAX LIMITED             2,789,974,969.62
    MOUNT MERU MILLERS UGANDA LIMITED             2,724,535,690.11
    MAGNET CONSTRUCTION COMPANY LIMITED             2,715,859,968.59
    ENVIROSERV UGANDA LIMITED             2,705,211,865.02
    BIYINZIKA POULTRY INTERNATIONAL             2,684,018,555.00
    AFYA LIMITED             2,655,229,324.50
    ACHELIS UGANDA LIMITED             2,649,738,348.50
    ALFIL MILLERS UGANDA LTD             2,649,126,821.00
    IBERO (U) LTD             2,647,717,327.00
    TIGHT SECURITY LIMITED             2,567,548,043.00
    NANJING EXEC RESTAURANT & MOTEL             2,560,655,198.00
    MCLEOD RUSSEL UGANDA LIMITED             2,558,494,608.95
    TECH MAHINDRA LIMITED             2,556,534,474.01
    XING XING FURNITURE (U) LIMITED             2,535,134,494.00
    PICFARE INDUSTRIES LTD.             2,530,781,991.00
    MITSUMI COMPUTER GARAGE LIMITED             2,513,607,197.00
    KINGS INVESTMENTS (U) LIMITED             2,500,092,289.39
    CREST FOAM LTD             2,485,553,229.00
    AFROPLAST ENTERPRISES LTD.             2,471,696,800.00
    PHOENIX OF UGANDA ASSU. CO             2,457,675,990.00
    UMA INDUSTRIES LIMITED             2,432,856,714.01
    EPSILON (UGANDA) LIMITED             2,393,040,802.00
    MAGANJO GRAIN MILLERS LTD             2,375,526,143.00
    STEELWORKS LIMITED             2,369,688,917.00
    SOMOTRADE (U) LIMITED             2,347,335,210.00
    MERIDIAN TOBACCO CO LTD             2,331,181,169.00
    WISPRO (UGANDA) LTD.             2,323,665,049.01
    INTERNATIONAL HOSPITAL-KAMPALA LIMITED             2,320,019,076.00
    CAIRO INTERNATIONAL BANK             2,289,729,489.00
    TUSKER MATRESSES UGANDA LIMITED             2,287,343,305.50
    G.M. SUGAR LIMITED             2,249,241,985.00
    EVEREST DISTRIBUTORS LIMITED             2,237,346,567.99
    CHINA GOLDEN ROOSTER STEEL CO. LTD             2,230,367,282.00
    HENCHANG PLASTIC (U) COMPANY LIMITED             2,228,748,095.00
    SECUREX AGENCIES UGANDA LIMITED             2,218,307,225.01
    APA INSURANCE UGANDA LIMITED             2,210,345,221.43
    MAKEPASI MATCH LIMITED             2,174,406,988.90
    AUDLEY LIMITED             2,149,900,132.43
    CHINA HENAN INTERNATIONAL CGCL             2,085,069,724.58
    WAZIR AUTO TRADING LIMITED             2,079,419,563.00
    HEINEKEN UGANDA LIMITED             2,078,791,326.00
    LYDIA HOME TEXTILES (U) LIMITED             2,070,016,055.11
    JHY SPARE LIMITED             2,056,617,300.00
    KITANDWE ENTERPRISES LIMITED             2,050,838,153.00
    ASIATIC SPORTS LIMITED             2,048,461,299.00
    MULTIPLE I.C.D. LIMITED             2,028,157,405.00
    LAKHANI MOTORS UGANDA LIMITED             2,018,186,836.00
    MUZURI INTERNATIONAL (U) LIMITED             2,010,941,114.57
    BWENDERO DAIRY FARM LIMITED             2,004,458,814.50
    HUDANI MANJI HOLDINGS LIMITED             1,989,591,289.50
    MUNYONYO COMMON/W RESORT             1,984,247,810.93
    JMK CONCRETE WORKS LIMITED             1,976,515,098.23
    MANZI INTERNATIONAL (U) LIMITED             1,976,140,525.50
    HOTEL AFRICANA LTD             1,968,526,447.50
    BEMUGA FORWARDERS LIMITED             1,961,419,992.00
    COMMERCIAL BANK OF AFRICA UGANDA LIMITED             1,952,909,536.00
    SAMEER AFRICA (UGANDA) LIMITED             1,926,402,686.01
    JESANI CONSTRUCTION LIMITED             1,921,767,389.04
    SAI OFFICE SUPPLIES (UG) LTD             1,903,566,380.00
    MANSONS UGANDA LIMITED             1,898,804,133.00
    KRISHNA CONSTRUCTION COMPANY LIMITED             1,885,166,829.00
    HOUSE OF EDEN (U) LIMITED             1,880,496,701.00
    PEOPLE PERFORMANCE GROUP ltd             1,865,675,589.11
    Total    4,228,999,137,131.62

     

    By J. Makumbi

    Comments

    CRIME

    Equity Bank Shs6.5bn Fraud Case Deepens As More Suspects Are Charged, Remanded To Prison…

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    Equity Bank fraud suspects Mukwaya, Mugumya and Kato appearing in court

    Three more suspects from Equity bank multimillion fraud case have been arraigned before the Magistrates Court of the Anti-corruption Division on charges of Conspiracy to defraud and remanded to Luzira prison.

    The accused persons are; Godfrey Mukwaya and Robert Mugumya, all former employees of Airtel Uganda and Fred Kato a former head of Small and Medium Enterprises at Equity Bank.

    Prosecution alleges that Mukwaya, a former sales manager at Airtel Uganda used different people to open up bank accounts through which the bank was defrauded of more than Shs10bn.

    State further alleges that Mugumya is linked to 179 fictitious companies that were created to defraud Equity bank and he used different persons to obtain more than Shs35 billion.

    The presiding Magistrate Abert Asiimwe did not allow the accused persons to plead to the charges reasoning that they are joined on the case file involving money laundering which is triable by the High Court.

    “While this court has powers to handle the case of conspiracy, this one is emanating from money laundering. I advise that you will plead to the charges in the High Court which has powers to entertain all the cases,” Asiimwe said.

    The three suspects charged brings the charged number to eight.

    On March 20, 2024, five people among them employees of Equity Bank were charged over accusations of money laundering in regard to disbursement of Shs62bn of unsecured loans to unqualified persons.

    The first suspects were arraigned before the Anti-corruption Magistrates Court on charges of obtaining credit by false pretense, money laundering and conspiracy to defraud.

    The remanded suspects are; the head of Agency Banking at Equity Bank Julius Musiime, Erina Nabisubi a relationship manager for telecom, Fred Semwogerere (Banker), Tumuhimbise Crescent Tibarwesereka (relationship officer) and Wycliff Asiimwe a distribution and marketing consultant with a microfinance facility.

    State alleges that between the 2021 and 2024 at Equity Bank in Kampala City, Nabisubi being a person employed as a relationship manager in charge of Telecom incurred a debt of Shs6.55bn from Equity bank falsely representing that the loans were being applied for by Najjemba Gladys who she fronted as having fulfilled the bank requirements to access the loans whereas not.

    State added that Nabisubi also incurred a debt of Shs300m from Equity Bank falsely representing that the loans were being applied for by Nagawa Latiffa who she fronted as having fulfilled the bank requirements to access the loans whereas not.

    It is alleged that between 2021 and 2024 at Equity Bank headquarters situated at Church House in Kampala, Nabisubi intentionally impeded the establishment of the true ownership of Shs6.5bn which she fraudulently obtained from Equity Bank as loan through account number 1032100370335 in the name of Najjemba Gladys purporting that the said funds were applied for by Najjemba Gladys as a loan whereas not knowing that the said funds were a proceed of crime.

    State further alleges that Musiime intentionally concealed the true ownership of Shs18 million which he received as gratification from Mutuuza Stella for having fraudulently processed a loan of Shs700m from Equity Bank by requiring her to deposit the said gratification on account number 1013101211316 in the name of Gilbert Rwaiheru Kiiza knowing that the said deposits were a proceed of crime.

    According to the charge sheet, in the year 2021 and 2024 at different places in Kampala and Wakiso districts; Musiime, Nabisubi, Ssemwogerere, Tumuhimbise , Asiimwe, Kato, Mugumya and Mukwaya conspired together to defraud Equity Bank of Shs62bn by fraudulently causing the disbursement of unsecured loans to unqualified people.

     

    By Grapevine Reporter

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    MY MONEY

    Businessman Kabanda, KACITA Leadership In Trouble As Traders Accuse Them Of Using Their Problems To Seal Juicy Deals With City Landlords And M7…

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    KACITA's Thadeus Nagenda (L) and John Kabanda the Kampala New Generation Traders Association boss

    Thadeus Musoke Nagenda the chairperson of Kampala City Traders Association (KACITA) has declared that his association will not join the newly formed federation citing fraud and extortion.

    Musoke made the statements few weeks after controversial businessman John Kabanda of the Kampala New Generation Traders Association led a team of city traders to form a Federation named the Federation of Uganda Trade Association (FUTA ) and he was appointed the chairperson deputized by his friend Godfrey Katongole while Moses Lwegaba was appointed as publicity secretary.

    Former State minister for Trade Harriet Ntabazi was appointed as the patron of their federation which is set to open countrywide offices to assist traders to solve their problems.

    During the course of investigating this story, theGrapevine established that in Kampala city, there are more than seven traders associations and these are: Katukazane Shoe Dealers which brings together all traders dealing in shoes, Kampala Arcaders Advocacy Forum (KAFO), United Arcaders Traders Entrepreneurs Association (UATEA), Kampala New Generation Traders Association, Kampala Traders Association KATA), KACITA, Uganda Needy and Squatters Association, Kikuubo Business Community.

    According to Kabanda, all the said associations are supposed to be under his federation.

    However, Musoke’s KACITA, KAFO, UETEA declined to join the association because they did not participate in its formation.

    Musoke said that he cannot lead KACITA to join the new federation well knowing that its leader Kabanda is not a trader in Kampala city.

    He challenged him to prove by showing where his shop is located.

    He further explained that Kabanda is a known event and music promoter and he cannot be entrusted with traders’ issues to be handled with his team. Traders reveals to Grapevine that fellow members formed associations and federations to use it to seal deals with tycoons who are landlords owning city arcades and buildings where they operate from.

    “Their role is to incite us to demonstrate against the poor conditions we are operating from including paying high rent, paying money for using toilets, high taxes and when we placed the landlords on the wall by closing our shops, they invite our leaders in a closed door meetings, bribed them and came back when their tongues are changed speaking in different page with us, pleading with us to open our shops as negotiations proceeds and when you open nothing yielded,” a trader said.

    However Musoke explained that KACITA is currently the association that brings all traders in the country and they have over 20 associations which work under them while they are still in talks with others.

    Other traders accuse Kabanda of forming the federation to use it as a weapon in his ongoing drive to mobilize money for his coming introduction and wedding to his lovely wife.

    theGrapevine was told that traders were surprised when Kabanda decided to give his wedding budget to city landlords and one of them even offered to support him financially. Kabanda is of the view that once he gets married, his lifestyle will change and he will start handling issues respectively.

    Others claim that Kabanda has political ambitions to stand for a political office in Kampala city come 2026 and he wants to use his federation and the association to gather political support.

    theGrapevine also established that there is ongoing lobbying by city traders seeking to meet President Yoweri Kaguta Museveni to discuss the problems the traders face during their operations and both Kabanda and KACITA are fighting to lead the traders to meet the President with each association fighting to be recognised as the umbrella of all traders.

    When contacted, Kabanda denied all the accusations explaining that city traders are tired of KACITA because their leadership is in bed with landlords who are mistreating them. He gave the example of Isa Ssekitto the KACITA spokesperson who is also the spokesperson of Bagagga Kwagalana association which brings together all tycoons in Kampala city.

    On the issue of not having a shop in the city, Kabanda rubbished the allegation and revealed that he owns a shop in BBC building a long Nabugabo which deals in open shoes nicknamed ‘Nigina’.

    Kabanda’s statements were supported by sources in Uganda Revenue Authority(URA) who told theGrapevine that KACITA leadership act like dealers who agree with URA over a matter on behalf of the traders but after, they turn against them and disassociate themselves from the matter agreed upon and incite traders to turn against URA.

    Edward Ntale the chairperson of UATEA revealed how traders’ association leaders enrich themselves through their associations.

    He gave the example of the money collected from traders as transport to be used when going for meetings with government officials on issues concerning their problems.

    Sulaiman Matovu, a trader dealing in shirts said that the problem they are facing is that all their association leaders want to take themselves as leaders of other associations and no one wants to listen to another which is hindering the way to solve their problems.

    The internal fighting among traders comes days after Kabanda through his federation declared a sit down strike which was expected to start on Monday next week.

    Kabanda asked all traders to close their shops to send a message to Museveni’s government that they have also joined the struggle to liberate this country after being worn out by the high taxes placed on their exports.

    He pleaded with fellow traders to avoid people telling them that they should not participate in the strike because of the coming Idi day festival because they will lose business when they close their shops.

    Kabanda advised them to buy all the goods which they will use on Idi day, insisting that they are in the struggle and they need to sacrifice to achieve what they want.

     

    By Hadijjah Namagembe

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    CELEBRITY GOSSIP

    Top Lawyers, Court Bailiffs Cite Witchcraft After Buyers Shun Tycoon Hamid’s Pearl Of Africa Hotel…

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    Businessman Abdullatif Hamid

    For the second time now, city lawyers of MMAKS Advocates and ENS Africa Advocates instructed Armstrong Court Bailiffs and Auctioneers to do fresh advertisement inviting suitable buyers to participate in the auctioning of Aya hotel.

    “We shall proceed to sell the property below together with developments thereon by public auction pursuant to a warrant of Attachment and sale issued by the High Court of Uganda (Commercial Division) unless the judgment debtor pays to us the entire outstanding decretal sum (including interest) and our fees and costs before the fall of the hammer at the auction,” the advertisement in today’s daily read in part.

    The advert further explains that the property under attachment comprises a 5 Star Hotel situated at an altitude of 1240 meters above sea level making it one of the highest points with a 360 degrees view of Kampala city.

    The advert added that the hotel spans 32,000 square meters and comprises 23 floors, 296 rooms, 37 suites, 2 restaurants, 3 bars, 9 meeting rooms, 15th floor executive lounges and a business centre with all top class amenities. The said property is owned by Sudanese national Abdullatif Hamid, the Executive chairperson of Aya Investments Limited.

    The property under attachment is in LRV 3556 Folio 9 plots 7A1-9A1 & 10 Lugogo Road and plots M32, M183 & 2E Nakasero Hill Road Kampala measuring approximately 5.975 hectares.

    According to the advertisement, the second auctioning is expected to take place on 3rd May 2024 at the bailiff’s offices.

    When contacted, one of the lawyers at MMAKS Advocates reveals to theGrapevine that buyers have been inspecting the hotel but have not shown interest in buying it and it’s the reason they have instructed bailiffs to advertise the property for the second time.

    “That man must be a witch, I’m telling you, people have been coming but they are not committed to participating in the buying process,” a lawyer said.

    According to court documents, between 2007 and 2017, AYA secured Shs305bn from the Industrial Development Corporation (IDC), a South African lending company to construct Pearl of Africa Hotel in Kampala and was supposed to pay back the loan within ten years which he defaulted on.

    Hamid was dragged to the South African Tribunal and he did not defend himself which resulted in the judge Bruce Collins QC to issue a court order directing him to pay  Shs572bn which he challenged in Uganda Courts but he also lost the legal fight.

     

    By Hadijjah Namagembe

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