Renowned controversial Masaka-based businessman Emmanuel Lwasa has openly admitted to facing financial difficulties and declaring bankruptcy.
Over the years, Lwasa has been known for his lavish spending habits and frequent relationships with women.
However, his financial situation took a turn for the worse, leading to his brief stay at Luzira Prison due to money-related issues.
Recent reports have revealed that Lwasa took out a loan from Equity Bank which he was unable to repay, resulting in the bank putting his Club Tavern Kick up for sale.
In light of these challenges, Lwasa has publicly announced his bankruptcy and attributed it to the people of Masaka.
During an interview with Spark TV, Lwasa mentioned that many individuals from Masaka would visit his club and consume drinks on credit without settling their bills.
He refuted claims that his financial downfall was due to his relationships with women, stating that the money spent on them came from his business profits.
ALSO READ: Equity Bank seizes Emmanuel Lwasa’s Club Tavern Kick in Masaka
Furthermore, Lwasa expressed disappointment when he ran for a political position in Masaka, as voters chose a candidate who did not even own property in the area.
