PRICE OF POMP? Mbidde set to lose multibillion properties over shs800m debts after lavish wedding
All is not well in the matrimonial home of city lawyer Fred Mukasa Mbidde, who is also a Ugandan representative to the East African Legislative Assembly (E.A.L.A).
Word from Snoops indicate that Mbidde, who recently held a lavish wedding with sexy Phiona Nayebare, is likely to lose properties worth billions of shillings if he fails to clear loans worth over Shs800m, which he secured from a city commercial bank some time back.
Actually, we have established that the said commercial bank, has, through their debt collectors Cranimer Associates, advertised Mbidde’s properties in the local dailies for auctioning, unless he clears his debts within 30 days.
Mbidde’s properties which are up for auctioning include Elsie Hotel LTD, comprised in FRV 707, Folio 7, at Masaka-Nalubale Street, Plot 12-14, measuring 0.122 hectares.
This however comes at a time when Mbidde is planning to settle down with his newlywed wife Nayebare, such that they can start up a family, shortly after enjoying their honeymoon.
Mbidde and Nayebare held a splashy wedding last month after being united in holy matrimony at Uganda Martyrs Basilica, Munyonyo, after which they hosted their guests to a lavish banquet at the Lake Victoria Serena Golf Resorts & Spa.
Their wedding ceremony was attended by several Ugandan A-listers, among them city tycoon Godfrey Kirumira, who was chairman Wedding Committee.
Mbidde’s wedding with Nayebare followed the demise of his late wife former Bukomansimbi MP Suzan Namaganda, who perished in an accident along the Kampala-Masaka highway in 2015.
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