Zawadi Bus Services Company has suspended all operations in Adjumani, leaving workers without jobs and passengers stranded.
The management of Zawadi Bus Services has attributed its decision to the mounting bank debts that accumulated after the Covid-19 pandemic, which severely disrupted the company’s operations and finances.
Mr. Simon Amajuru explains that their troubles stem from the huge loans they got for business expansion
“We acquired these buses with support of Stanbic Bank asset lease facility worth 480 million. We acquired two more buses in 2009 with support from Stanbic Bank worth 300 million and remained compliant with the terms of the loan. In 2013, we added seven new buses to our fleet still with Stanbic Bank support worth 1.08 billion.
In 2019, with the funding of Uganda shillings, 2.857 billion from Stanbic Bank, we introduced eight new buses. Unfortunately, one of the new buses was involved in a fatal accident and was written off at a very high cost with Zawadi services limited,” Mr Amajuru.
Those affected by the decision include Ms Christina Abe, an accountant who joined Zawadi in 2009, said she was equally worried about how to rebuild her life following the company’s shutdown.
Ms Abe said she joined the company with a diploma and used her earnings to pursue a bachelor’s degree in accounting while supporting her children as a single mother.
“I joined Zawadi in 2009 meaning that i have been with the for 17 years, am a single mother , i have been taking care of my children, my first born is at the University with the help of Zawadi when we got the news we were stranded, i own nothing, i have been in kampala for the last 17 years, I don’t know what to do,” Ms Abe said.
By Marko Taibot
