Part of Kampala’s biggest market, St. Balikuddembe aka Owino market could be sold off soon by public auction unless the traders pay off a debt owed to DFCU bank.
This latest development comes after Court ordered Owino land to be auction in order to recover the over Shs4billion debt.
The court order was issued on January 24 this year by the registrar, execution division, Mr Muse Musimbi to Baingana Bailiff and Auctioneers.
This is the second time court is issuing a court order to have SSLOA’s property attached. On 23 August last year, the same court ordered for the attachment of the same but vendors requested for more grace period.
Mr Wilberforce Mubiru, the SSLOA Spokesperson acknowledged that they had received a court order and noted that vendors are now worried about their land, which he said, could be auctioned any time from now.
The market leadership under their Umbrella body of St. Balikuddembe Market Stalls, Space and Lock-Up shops Association (SSLOA) borrowed Shs4billion shillings from Dfcu bank in 2011 for the lease of land, on which the market sits, from Kampala Capital City Authority (KCCA) and staked their 4.5 acres of land in Kisenyi suburb as the security for the loan. They were required to pay back the loan in five years