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This topic contains 41 replies, has 1 voice, and was last updated by Free Uganda Free Uganda 11 months, 2 weeks ago.

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  • #27347

    THIS GOVERNMENT DOESN'T CARE AT ALL!

    Author of Various books on Economics and former Makerere University lecturer Bernard Tayebwa Mugisha has gone to meet his creator.

    This website understands that the Author “Principles Of Economics” book died of kidney failure.

    He has been suffering from diabetes and hypertension for about 15 years until he developed kidney failure.

    The father of five was admitted at Mulago Hospital in ward 6B, under in-patient number 8002, where he was receiving dialysis under the care of nephrologists.

    Tayebwa has been an outpatient, only going to hospital to undergo dialysis but with the on and off infections he had to be admitted.

    Three months ago, his feet started swelling and tests revealed elevated levels of urea in his system because the kidneys were failing.

    Tayebwa was forced to quit work three months ago and barely had any savings left owing to the costly treatment, which has so far cost about sh15m. His family was spending over sh500,000 weekly on dialysis. Dialysis is the artificial process of eliminating waste from the blood.

    He used to undergo two sessions a week, each costing sh200,000, exclusive of medication of sh150,000 a week.

    Who is Tayebwa?

    Bernard Tayebwa 54 is the author of many publications including the popular A-Level economics textbook titled, “Basic Economics” which is used in East Africa and beyond.

    Tayebwa taught Economics at Makerere University from 1988 to 2008 and worked as manager of Agribusiness Unit (ABU) at Uganda Cooperative Alliance. He is also one of the founders and chairperson of Kibatsi Development Association (KDA) a community-based organization.

     

    #27349

    Uganda Phony Investors

    Sudhir Ruparelia
    Kampala Tycoons have been fingered as the people behind the failure of their counterpart Sudhir Ruparelia’s Crane Bank to raise Bank of Uganda Capital requirements and being taken over by the Central Bank.

    Patrick Bitature of Simba Group
    Simba group Boss Patrick Bitature is one of those who have failed to pay back a loan of over 200 Billion shillings, which is also the same amount of money government claims to have invested in Crane Bank in the meantime.

    Amina Hersi Moghe is one of Kampala’s leading entrepreneurs.
    Then Nakumatts Oasis Mall and Kingstone cement owner Aminah Hersi owes the Bank 120 Billion shillings.

    The other is Elvis Sekyanzi Wavamuno who owes 5 billion shillings, and Shukla Mukesh of Shumuk Group of companies who owes 17 billion shillings.

    Shumuk Group Boss Shukla Mukesh

    Other loan defaulters include AZ Enterprises which owes 1.2 Billion shillings,Ms Frank sonko Limited which owes 3.5 Billion shillings, Colline Hotel owes 4.7 Billion shillings.

    Elvis Ssekyanzi Wavumuno of Silk Events and Club Silk

    However, when the Bank moved in to attach their properties or put them under administration until the loans were repaid, the Tycoons who seem to have Political power and Godfathers even Sudhir Ruparelia can never dream of, pulled all the stops to ensure that the Bank doesn’t collect.

    For example, Patrick Bitature and Ms Amina Hersi are said to have personally asked the President to intervene and get Sudhir off their Backs, insisting the business situation was not good and they didn’t want to lose their businesses yet at the same time they could not afford to pay their loans.

    This left Crane Bank with Nonperforming loans ranging in billions, and the tycoon’s last effort to pay their dues after political power intervened was the failed attempt to get a government Bailout.

    Now Sudhir was left to deal with his Bank’s problems and Central Bank while his debtors continue to enjoy the fruits.

    This is also one of the reasons Sudhir could not believe it when Bank of Uganda refused to give him more time to raise money, yet they (Bank of Uganda) and the politicians knew why his bank was in trouble.

    Most of these are clients who know the Banks owner Personally and had staked property as collateral for their loans.

    With loans they have failed to pay almost equal to the amount of money, Crane Bank needed to raise to save itself from being taken over by Bank of Uganda,

    Most of these are clients who know the Banks owner Personally and had staked property as collateral for their loans.
    However, when the Bank moved in to attach their properties or put them under administration until the loans were repaid, the Tycoons who seem to have Political power and Godfathers even Sudhir Ruparelia can never dream of, pulled all the stops to ensure that the Bank doesn’t collect.
    For example, Patrick Bitature and Ms Amina Hersi are said to have personally asked the President to intervene and get Sudhir off their Backs, insisting the business situation was not good and they didn’t want to lose their businesses yet at the same time they could not afford to pay their loans.
    Now Sudhir was left to deal with his Bank’s problems and Central Bank while his debtors continue to enjoy the fruits.
    This is also one of the reasons Sudhir could not believe it when Bank of Uganda refused to give him more time to raise money, yet they (Bank of Uganda) and the politicians knew why his bank was in trouble.

     

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