In light of a court ruling that declared Kampala city magnate Mohan Kiwanuka insane and unfit to oversee his business empire, the countdown has begun for Ssebuliba Kiwanuka and his family to agree on who will manage their father’s enterprises as mandated by the court within 30 days. Currently, only 19/20 days remain; if they fail to make a decision, government officials will intervene and appoint someone they trust to take charge of the entire empire’s operations.
The court, presided over by Judge Cheborion Barishaki, also directed Mohan Kiwanuka’s young wife, Maria Kiwanuka, to submit all documents related to how she has been earning and saving their money during the period Mohan was unwell at home. Lawyer Mohan Kiwanuka amassed considerable wealth while serving on the custodian board, having been appointed by President Museveni to manage the compensation process for exiled Indians. On the board with him were Matia Kasaija and Dr. Sam Mayanja, and it was during this time that Mohan Kiwanuka acquired many properties belonging to Indians who were unwilling to return to Uganda.
For those who had passed away, Kiwanuka and his associates took control of their properties, generating substantial income. Concurrently, Mohan Kiwanuka served as a lawyer in the loan department at the Bank of Uganda, where he allegedly appropriated a business idea from a client interested in starting a book industry. It has been revealed that he stole this idea and subsequently left his bank position to establish Oscar Industries; however, this venture ultimately failed due to substantial URA taxes and corrupt individuals undermining his business empire.
Ritah Kaggwa Blog has learned that Tycoon Kiwanuka’s business challenges began after being approached by senior government officials regarding a mineral factory project in the Karamoja region. Initially, Kiwanuka declined the offer, but after multiple phone calls and meetings with corrupt individuals, he reluctantly agreed to the deal, securing a sizable bank loan by using some of his land as collateral. However, after obtaining the funds and starting construction, the officials rescinded their agreement, leaving him overwhelmed with unpaid debts that persist to this day.
Before his mental decline, Kiwanuka expressed regret about falling into the trap set by these corrupt individuals. The massive loans he took out are one of the reasons many of his properties, including the one housing Radio One, remain in disrepair, alongside undeveloped lands in Kololo and Muyenga. While he was still managing his businesses, he attempted to establish an accounts office run by his son, Ssebuliba Kiwanuka Jordan, with the intention of settling URA taxes, but he faced frustration from malicious actors within the tax authority, who claimed he was not paying his taxes adequately. As a result, they are still demanding billions for tax errors.
A similar fate unfolded for the now beleaguered city tycoon Wavamuno, who suffered significant losses from a failed CHOGM deal that left him burdened with debts. His property that housed WBS TV, now the current NBS TV office, was seized due to unpaid tax liabilities. Efforts by Gen Otafiire to help him retain his number plate contract also fizzled, as it was ultimately awarded to foreigners who now produce digital number plates; this mirrors the experiences of others like BMK, Mulwana, Zimwe, and more.
