BANK LOAN HAUNTS MAGACHA
Gospel artist, Sabastian Magacha has been sued by CBZ after he failed to repay a $2 500 loan he borrowed in 2015.
He got the loan through a youth empowerment scheme under the ministry of youth. He says he failed to pay back the money after the musical instruments he bought were stolen.
“You might be aware that sometime in 2015 I lost my musical equipment to thieves who broke into my house and stole them. I reported the matter at Mabelreign Police Station and I had used the money from the loan to buy those instruments.
“I have failed to recover the money because I wanted to get the money back by hiring the instruments out and also from my own live shows. Since I have failed to meet the deadline I am now seeking a payment plan to pay back the money,” he said.
The bank is yet to respond to the proposed payment plan.
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