News

Bank to auction former presidential candidate’s properties for defaulting on loan

Former Presidential candidate, Nancy Kalembe in trouble over loans (PHOTO /Courtesy).

KAMPALA — A financial institution has threatened to sell properties of former Presidential Candidate, Nancy Kalembe worth millions of shillings over an accumulated debt.

The properties include Kyadondo Block 246 Plot 1779 and property along Bulemezi block 443, Plot 112, 115 and 116.

The bank, through their lawyers, Ortus Advocates on Monday, January 10 placed an advertisement in the media, indicating that the properties will be sold within 30 days after the date of notice issued to Kalembe.

The lawyers and auctioneers warned that they will proceed to sell the properties by auction or private treaty “after expiry of 30 days from the date of this notice or thereafter, unless the debtor pays all monies owed to our client, plus fees and costs incurred in the process”.

“Upon instructions from our client a financial institution, we shall proceed to sell by public auction/private treaty the property (land and its developments) under the mortgage Act 2009 and Deed unless the debtor pays all monies owning principal and interest plus our fees, costs and disbursement before the date of sale,” the notice read in part.

Kalembe run as an independent for president in the 2021 general election, in which she was the only female candidate, but “lost” to incumbent President Yoweri Museveni.

Kalembe’s campaign was plagued by financial problems which saw her suspend campaigns in some parts of the country.

Kalembe was born to the late George Patrick Bageya, who was the former LC-V chairman of Iganga, and Aida Cissy Kubaaza. She studied at St Mary’s College Namagunga for O-Level and Mariam High School for A-Level. She graduated with a Bachelor of Science in population studies from Makerere University in 2007.

In 2003, she joined the Miss Uganda contest and although she did not emerge winner, she was voted Miss Intelligence, earning her a job with Sanyu FM. On January 8, 2008, she joined the Apprentice Africa, the African version of the American reality TV show, The Apprentice, hosted by Donald Trump. She emerged sixth out of the 16 finalists, winning a working slot at PHP Bank in Nigeria.

Kalembe returned to Uganda in 2009 and worked with Orient Bank until she resigned in 2010 to fully concentrate on her businesses. In her free time, she enjoys swimming.

She is the founder of Spring Clean, a cleaning company, and Mbalimbali Ltd, a pineapple juice and jam-producing company based in Nakawa. Before reaching these heights, Kalembe, 34, tasted the varied waters of employment. She worked as a news anchor at the then Uganda Television (UTV).

She was the account manager for Uganda Telecom (UTL) and account holder for Nation Media Group at Lowe Scanad advertising agency, and sales and promotions executive at Sanyu FM.

She also had a working stint at PHP bank in Nigeria and Orient bank in Uganda.

Click to comment

Dear our estimated reader, what is your take about this topic?

Most Popular

To Top