Dfcu Bank To Evict Owino Market Traders

Dfcu Bank To Evict  Owino Market Traders

Just a few days after tycoon Hamis Kiggundu aka Ham evicting traders from Parkyard Market, over 5,000 traders at St. Balikuddembe Market, famously known as Owino, also face eviction.

The traders, according to sources, will be evicted in less than three months from now after being issued with a notice of attachment of their land and property by dfcu bank on Monday, over failure to pay a loan amounting to over Shs4.5Bn.

Badru Kavuma, who is the chairperson Owino Traders’ Association said that “The money in question was lent to the traders by dfcu bank to recapitalize their business after the market got burnt some time back.”

He added that “However, several of the traders  refused or failed to pay the monthly installment of Shs1m per month to cover the loan and the default prompted the bank to process a foreclosure on the market land, since we staked the title deed as collateral security for the loan.”