What you need to know:
- They had claimed that whereas Bank of Uganda directed that there should be foreclosure of mortgaged properties by banks during Covid-19 pandemic, Equity Bank went ahead and sold their properties at very low prices during the Covid time.
President Museveni has pulled out of the Simbamanyo assets loan row, in which he had been petitioned to intervene in an alleged illegal sale of Simbamanyo House and Afrique Suites by Equity Bank Uganda.
Mr Museveni in his letter dated October 25 to Mr Peter Kamya and Dr Margaret Muganwa Kamya that this publication has seen, contends that the sale of the aforementioned properties by Equity Bank was legal, hence no need for his intervention as the Head of State.
“Following receipt of your complaint (businessman Kamya and Dr Munganwa) to me about the illegal sale of your properties by Equity Bank, I directed the Attorney General and the governor, Bank of Uganda to investigate the complaint and report back,” reads in part Museveni’s response
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