BoU Report To Museveni – “Simbamanyo Estate Was Auctioned In Accordance With Provisions Of The Mortgage Act & the Mortgage Regulations To The highest Bidders”
Bank of Uganda has defended the decision by Equity Bank to auction Simbamanyo House and Afrique Suits saying the transaction was done under the law. BoU says Simbamanyo and Mr. Kamya failed to respect their loan obligation when they (Kamya) failed to payback the loan as agreed by parties as he continued receiving money from…
