One time Local event guru and entertainment hub owner , Elvis Sekyanzi Wavamuno , is set to lose his multi billion shillings properties for failure to service outstanding debts to a top financial institution, explains writer Jako David Waluluka
Sekyanzi’s latest property which has been put under the hammer by K&K Advocates , is located in Kyadondo Block 246, plot 2183 kyeitabya-Bukasa and is seated on 0.093 hectares , will be autioned on or about 14th January 2021, if he fails to pay his debt .
Sekyanzi, who has run several entertainment business which include ; former club Silk then stationed in industrial area, Silk events and promotions , with the latest being the now closed Liquid Silk Rendezvous in Naalya and Bugolobi, has until recently been one of the biggest local investors, employing hundreds of people and paying millions of shillings to URA .
In 2017 a local tabloid revealed that Sekyanzi had allegedly lost many of his properties including his prized Mercedes Benz Cross Country G55, his mansion along Luthuli Avenue and part of his ‘big’ Silk Events trailers, a story he trashed at the time .
It was at about that time that he secured a deal with Prophet Mbonye’s church then situated at the Kyadondo rugby grounds worth over 20M every Tuesday, to provide overheads like tents, chairs, toilets and sound through his silk events .
It is claimed that this is the money that Sekyanzi used to keep away his debtors for sometime until he fell out with the prophet.
At about the same time, a letter showing intention to release the Luthuli Avenue mortgaged property, then a letter that confirmed mortgage release under the Mortgage act no 8 of 2009 that was issued by Stanbic Bank.
During his prime, Sekyanzi , was deemed as one of the wealthiest entertainment investors , who was hands-on and was always overseeing his businesses personally.
However, it is when he let his guard down and let his co-share holders of the franchise, that signs of collapse started to emerge.
A story is told of how one of them had no respect for clients , that even if they had prior booked a table at their rendezvous, he chose to use the same space to ‘gamble’ and rendering the client ‘useless’ thus causing a lot of exodus of corporate clients.
He was born in 1975. His father is Ugandan millionaire and entrepreneur Gordon Wavamunno. Sekyanzi studied sound engineering at the London School of Electronics.
Businesses and investments
Sekyanzi owned a number of entertainment-related businesses. He was also a director and manager in some of his father’s companies, including the defuncted WBS Television, Wavah Water, and Radio Simba.