MBARARA: BALYA MALL REOPENED AS TYCOON BALYA, ORIENT BANK RESOLVE MATTERS

Posted On 27 Aug 2020

By : mk

Post Views: 2,035

By Aggrey Twesigye

www.mknewslink.com

In Mbarara

Balya mall which houses Balya stint hardware and other businesses was yesterday reopened after 5 days following its closure by court brokers over 9 billion shillings defaulted loan.

The mortgaged mall was closed and put on sale by brokers after tycoon Apollo Balya the owner, failed to pay back 9 billion shillings he had acquired from Orient bank as a loan.

His two sons alongside their friend were arrested on Sunday morning after parking trucks in the middle of Masaka -Mbarara to block other road users in protest to the takeover of their father’s property by the bank, but were later released on police bond, according to Samson Kasasira the Rwizi region police mouth piece.

Now, tycoon Apollo Balya yesterday told media that they have started operating as usual and they are also trying to settle the matters promising to let journalists know of the outcomes anytime.