The past few days have been filled with news of the ongoing financial and legal battle between city businessman Patrick Bitature of Simba Group, and Vantage Capital, a South African financial institution.
It is a long story, and a lot has happened between the two
parties with Vantage saying they lent Bitature about $10 million in 2014, but
he has defaulted on that loan since then, and it has accumulated to a whopping
$34 million.
Lawyers, financial experts, wannabes, and numerous people
with limited to no knowledge of finance and law have given their unsolicited
opinions, some useful, some biased, and some way out of context. The last nail to
the coffin was when Bitature’s lawyer, Fred Muwema said his client signed the loan agreement by mistake.
See, if I signed a loan of such an enormous amount by
mistake, the logical thing to me would be to either discuss better terms or
return the money. But I am probably thinking that way because my net worth is not even
$10K. Although Ugandans have come out to mock Bitature for signing a $10
million loan agreement by mistake, I think we shouldn’t fault him that much,
since we have also signed quite a number of contracts by mistake, and my top five
of such things are below:
1. To
be in Uganda
Listen, Uganda is a beautiful country, one of the most
beautiful in the world even. We have the source to the longest river in the
world, we have snow-capped mountains in the west (although they’re melting
away), we have the chimps, the rhinos, the thrilling falls, the lovely rolex
(we even have a Guinness World Record for that thing), among so many others.
However, a lot of things happen in this country and make you realise it was a
mistake to live in this country. Oh, you want me to mention them? You know them
very well. To give you a starter, go to Entebbe airport and see how many of our
young girls are running away to “better” countries in the Middle East, every
single day. Living in Uganda is so tiring, physically and mentally, no wonder 14
million of us are mentally ill.
Here is a video explaining that mental illness bit: Witchcraft Causing Mental illness!! Ugandan Women and Taste Better Than Kenya's!!.(EPISODE 11) - YouTube
2. Our
love for the Uganda Cranes
It is no doubt our national football team, the Uganda
Cranes, is the most followed team in any sports discipline in this mistaken
country, and yes, we signed our love contract with this team by mistake. We
love it, we follow it, and we support it whenever it plays. However, we get little
to no joy in supporting it. The team keeps disappointing us on the biggest
stage, bar a few good moments here and there. Had we known it would be like
this, we would have devoted our love and resources to other sports that actually try
to win something. Like athletics. Those medals won and worn by our runners are
a joy to watch. Like netball. Our girls have represented us at the Netball World Cup, Netball African tournaments, etc, and perform exceptionally well.
3. Men
sending money to women for transport
At some point, almost every Ugandan middle-aged man has sent transport money to
a woman and she failed to show up. Some unsuspecting men have fallen victims to
this vice from some merciless women repeatedly, so much so that some are proposing it to be treated as treason. This is a contract they sign mistakenly,
continuously. Had we got good counsel from those who know that you shouldn’t
send her transport unless you’re at a better stage in your relationship, we
wouldn’t be making this mistake.
Here's the video that explains how terrible "eating" transport money is: Eating Our Transport Money is Treason/ Telling Agold Digger - YouTube
4. Telecoms
The contract Ugandans mistakenly signed with telecoms is
filled with bad and exhaustive terms and conditions, with fake promises. Uganda
pays one of the highest costs on data on the continent with unreliable network and speed. We are
promised 4G speeds but most times we get 3G, and sometimes, especially
upcountry, we are struggling with 1.5G (Edge)! Imagine. If we knew that this is
how things would go, we would just stock pigeons, pens, and paper for our
communication. Trusting these telecoms was a mistake.
5. Our
contract with Umeme
This is self-explanatory so I will not even spend any time
on it. To show you how bad it is, we are always actually surprised whenever it
rains and the power doesn’t go off. It’s about to rain here and I need to charge my
devices before the power gets off so bye.
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