Masaka businessman Emmanuel Lwasa has announced that he has put his popular entertainment hub Tavern Kick up for sale as he struggles to settle a loan with Equity Bank.
Speaking during an interview with Kasuku, Lwasa revealed that the property is being sold at UGX 2 billion, a move intended to help him regain financial stability after failing to meet repayment deadlines.
Lwasa explained that he acquired a substantial loan from Equity Bank to invest in multiple business ventures, but the investments have not yielded the expected returns. As a result, the loan has continued to accumulate over time.
The tycoon disclosed that he has so far managed to pay back UGX 500 million, leaving a balance of UGX 600 million, which has forced him to let go of the popular hangout.
“The property is currently under the bank, but I negotiated with them to allow me sell it myself. I believe selling it will help me clear the outstanding balance and remain with something to keep going,” Lwasa explained.
Tavern Kick has long been a popular nightlife destination in Masaka, hosting various entertainment events and celebrity appearances.
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