They say it never rains but pours. And its indeed pouring on tycoon Elvis Ssekyanzi.
Just after losing his fantasy hangout Club Silk, the tycoon is now on the verge of losing his prime property in the upscale Bugolobi suburb after failing to clear a loan.
The property along Plot 1 Luthuli Avenue, a swanky residential house, is set to be auctioned by auctioneers after the tycoon failed to clear debts believed to be in billions of shillings.
The tycoon was given only a lifespan of a month to either clear the debt or lose the house. Ssekyanzi’s troubles come just days after he was forced to sell out the building that houses Club Silk to Vision Group to help offset other loans.
Vision group, which neighbours Club Silk in industrial area, will use the building to decongest its offices. Mr Ssekyanzi was one of the struggling business people that unsuccessfully sought for a bailout from government.
