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 thro...
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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