MONEY BAG: Tycoon Kacuma shakes Mbarara City With Property-buying Spree

Kacuma and his wife at a recent ceremony

Kacuma and his wife at a recent ceremony

Mbarara – At this rate, tycoon Godfrey Kacuma might soon own the whole of Mbarara City! And surely Kacuma must be one of the few Ugandans who count their money in kilos! Because how would one explain the speed at which he is acquiring mega structures one after the other in just a very short time.

Reports say the tycoon has completed the construction of three multi-billion structures in a period of lesser than two years.

Although most people are heard crying about how the Covid-19 lockdown has affected their earnings and businesses for tycoon Kacuma, he seems to be smiling in these economic hard times. Reports say that in a period of just one year, Kacuma has constructed and completed two mega-mansions, one arcade and a plaza.

These structures include; Western Arcade at Buremba Road just opposite the Central Market which was constructed in less than a year. Here, he demolished a structure that was there and constructed Western Arcade. Thereafter, he started constructing another structure called GBK Plaza located at Makhan Singh Street which also took a period of less than six months to complete. The two structures are already accommodating a number of customers and several businesses.

This plot was formerly owned by one Ben and it was being used as a night parking and washing bay. After completing GBK Plaza, he immediately demolished one of his oldest buildings near Centenary Bank that was accommodating Zee Pharmacy where he is putting up a multi-billion mansion that is under construction. He also bought another structure on Mbaguta Street that belonged to one Isaya, who was also a tycoon in Mbarara.

Le Grande Arcade, one of Kacuma’s properties in Mbarara

However, things did not move on well for Isaya and he now hoofs like a tired cow. Sources say that during the process of constructing these structures, he somehow became stuck and sold off one of his farms in Bubaare, Kashari to former Mbarara LC5 boss JB Tumusiime Bamuturaki. Now the latest we have is that Kacuma has already finalized a deal to buy Le Grande Arcade, one of the tallest buildings located on the High Street just opposite New Classic Hotel and also opposite Radio West, Mbarara City.

Reports say the tycoon is ready to splash about Shs11bn on the structure. And because he is too much loaded, he pays cash whenever he is buying these structures. Le Grande Arcade is owned by Moses Mugume, one of the youngest tycoons in Mbarara City. Mugume also owns another structure called Amazon which is also one of the nice-looking buildings in Mbarara City.

And who knows, after finalizing the Le Grande Arcade deal, Kacuma might also get interested in Amazon and acquire it. Mugume who is also putting up another building near Uganda Martyrs P/S hails from Kaberebere in Isingiro district. Sources say he currently holds a tender to supply electric poles in Uganda.

Western Arcade

Who is Kacuma?

Kacuma in his early 80s is one of the most hardworking guys in Mbarara Town. He is the Executive Director of GBK Dairies and GBK Mineral Water. He owns a huge factory in Rwebikoona, Mbarara City. He is also the owner of all the GBK buildings around Mbarara town; he has two buildings at Mbaguta Street just opposite Central Market.

Kacuma also owns about three monster V8 Land cruisers with GBK personalized number plates. A few months ago, he bought a brand new V8 Land cruiser which he currently rides around town whenever he is supervising his properties.  Kacuma hails from Kashari, Mbarara district.

GBK Plaza

In 2017, he was chosen by Dr. Sheldon Mwesigwa, the Bishop of Ankole Diocese to be the board chairman finance at Ankole Diocese. He is a strong member of the Anglican Church. He is one of the most popular tycoons in entire western Uganda and is believed to be one of the top landlords in Mbarara.

The other tycoons in his league include the likes of Hosma, Kashaka, Fene-the owner of Lake View hotel and Easy View Complex. We are not sure whether he conducts business as a sole proprietor or he is in partnership with others, or a front. But the hardworking man that he is, there is no wonder that he owns these structures alone.

His pals say he is a very strict guy who cannot allow anyone including his children to joke around in his business. This is the reason his businesses have been able to survive for a long time. Because he is very strict, he employs some of his children in his businesses and pays them a salary every month like any other employee. Kacuma is a man who doesn’t hang out in the evenings.

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By 6:00 pm, Kacuma is already at his home enjoying the evening with his family and by 7:00 am, you will see him rotating around town supervising his construction sites.

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1 thought on “MONEY BAG: Tycoon Kacuma shakes Mbarara City With Property-buying Spree

  1. Super tycoons are pillars in an economy. They create employment for thousands, they pay taxes etc. We need more of such wealthy businessmen.

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