Worry As another Motor Cycle Lending Company Starts Operations in Soroti City

By Nathan Eyagu




Residents in Soroti City have been left asking questions concerning a new motor cycle loan financing company called WATU that kick started its services yesterday Tuesday, 19th, 2021.


WATU launched its operations with its offices located along School Road, Plot 44 in Soroti City East a few weeks after another company vanished with millions of people’s money.


Compared to Savannah motors, a company that’s on the run with millions of money that it collected from its clients after promising to give them motor cycles after paying a deposit of 500,000 ugx then later continue paying weekly or monthly, WATU charges a minimum down payment of Shs1, 500,000 and the new bike given to the client in a period of 24 hours.


Emmanuel Opio, a boda boda rider in Soroti City believes that the new company isn’t legit as they haven’t been told about anything concerning their services and what it takes for one to get a motor bike.


‘’According to me, this new company should provide all their detailed documents because there are many companies that come to act smart and later on disappear with people’s money thus leaving the poor man suffering,’’ James Egiru, a boda boda at Kukuk stage in soroti town explained.

Other boda boda riders who spoke to this website called upon the area leaders to effectively investigate the new company before people start taking their money to them.


‘’ I have not got any clear information about the new company called WATU, but when I informed about the presence of the new company, I decided to come over with one of their flyers to show it to the RCC,” Richard Ochuli, Richard the chairperson of boda boda association in soroti said.


Ochuli explained further that he was able to see one of the staff of WATU entering the office of the DISO where he was.


“They were seeking for permission for them to carry out their office launch but he was sent back to go and get all their company profiles,’’ Oculi said.


‘’Last time I was blamed for allegedly working with Savannah Motors, although with WATU, I hear they have branches all over the country, I request people to be patient as the leaders get to know more about this company,’’ he added.


When contacted, the Patrick Okumu, the RDC Soroti confirmed that WATU officials went to his office seeking clearance for them to start operations.


“As an RDC, I have to prevent my people from being mishandled so I asked them to provide my office with their company profiles and they already have bikes in place for those who clear so according to me, this company looks to be genuine however should any negative signal arise, we shall react,’’ he said.


By press time, the management of WATU had declined to comment pointing out that they are a legit company that has protocols to be followed before issuing any comment to the media.

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