By Alex Balimwikungu
Socialite and tycoon, Jack Pemba has punched holes in businessman Godfrey Kirumira’s claims that he owes Pemba $300,000 (over sh1b).
The commercial division of High Court has directed immediate arrest for Jack Pemba following a defaulting case that was put against him by businessman Godfrey Kirumira.
In commercial dispute between Kampala’s rich men Pemba and Kirumira, the latter accuses the former of failing to pay him US$ 300,000 (about Shs1.1 billion) that he lent him in November of 2017.
According to Jack Pemba, he gave Kirumira his expensive cars only for him to drive them. He insists Kirumira gave him $200,000 (725m) and not $300,000 and says he has the money to pay but part of the agreement was breached.
“I borrowed $200,000 from Kirumira and gave him my three prized cars jointly valued at over Shs1.2 billion as security,” he says.
The cars included a Range Rover with customized license plates ONLY 1 JP, which Pemba says was valued at $140,000 (about Shs513m), a brand new 2017 Land cruiser ZX 2017 model on which Pemba had spent $175,000 (about Shs642m) and a Hummer H3 valued at $35,000 (about Shs128m).
Apparently, he signed a sale agreement meaning that Kirumira had the liberty to sell the cars in case Pemba didn’t pay up.
Pemba says because Kirumira had driven the cars and their value depreciated, he had made up his mind to sell them and repay Kirumira, something that Kirumira refused.
Sources reveal that Kirumira became very angry after he realized that Pemba had bought a brand new Lexus valued at over Shs620m and he flew in Congolese star Koffi Olomide to perform at his wife Sheebah Kassami’s birthday party at the Sheraton Hotel where he blew more than Shs100m.
Pemba adds that Kirumira also rented out the cars to weddings and crashed the Landcruiser. Since the agreement between Pemba and Kirumira was a sales agreement, Pemba says the option Kirumira had was to sell the cars instead of running to court.
Pemba says the cars were supposed to be parked in safe custody but Kirumira unfortunately drove his cars and also gave them to his children to drive.
“They depreciated in value, and that really annoyed me,” Pemba said.
It was reported last year that Kirumira was seen driving Pemba’s “ONLY 1 JP” Range Rover to the Pearl of Africa Hotel. When Pemba read the news, he was very angry because Kirumira hadn’t stuck to the agreement. “Let the law take its course,” he concluded.