Kenya Commercial Bank has reportedly threatened to sell a prime property belonging to the late Cedric Babu over an outstanding loan of UGX 655 million, it has emerged.
Cedric Babu, son of former Kampala Central MP Francis Babu and President of the Uganda Chamber of Commerce and Industry Olive Kigongo, passed away on May 31st, 2025 following heart complications.
Before his death, Cedric had reportedly secured a loan from Kenya Commercial Bank which has since accumulated to UGX 655 million.
According to local reports, the bank has given the family 21 days to clear the outstanding amount or risk losing the prime property located in Kololo, Kampala, in a bid to recover the money.
The property, estimated to be worth about UGX 1 billion, currently hosts the family home.
Following the reports, social media users have called upon friends and well-wishers of Cedric Babu to mobilize funds and help save the property for the sake of his family and the young children he left behind.