Three Million Dollars

Michael Ezra's press conference at which he flashed what seemed a huge amount of money in US dollars has captured headlines and the buzz around the city. Even earning a top headline on Uganda's #1 independent daily!! (Were there no more important stories, Daily Monitor?) More than it being a case of Mr. Ezra debunking talk of being in the red, owing about $2m (or UShs 1 bn) in back taxes and an outstanding loan of UShs 400m, it was a verdict on the kind of journalism we have in Uganda!

Even without asking the necessary questions like "Are you broke?", a little sense of observation and reading between the lines would have shown the journalists that this is a non-story. First off, while 'tycoons' like Sudhir and Karim owns hotels et al, Mulwana is into plastics manufacturing among others, and Kirumira is in real estate among others, Mr. Ezra has no known source of such huge sums of money that he gladly shows off [with the media playing unquestioning praise singer....]. If the press is the watchdog of this society, then it is asleep on the job. Why journalists risk and put a lot at stake in unearthing shady deals like NSSF-Temangalo "procurement or investment" saga; then fail to probe where this guy gets this money from? Definitely, it goes without saying that in many Ugandans' minds...that is the three-million question?

Moreover, just putting two and two together....there are some obvious questions: Why would someone who can casually move around with three million dollars, borrow just UShs 400m (about US$ 200,000) from a bank at an interest rate of more than 20%? Were those genuine dollars anyway? Further still, keen observation and mental calculation (using the picture as a reference), the amount on the table is a little more than US$ 1m. By the way, who mentioned the figure US$ 3m!!! Even Mr. Ezra didn't, as per the Monitor story!! Besides this guy who purportedly ordered for a private plane, bid for Leeds United (why did the deal fall through?), bought a Lamborghini (for Kampala kind of roads?)...are journalists so gullible not to check this up [They don't need to move from their seats, just surf the net, send out a few inquiring e-mails].

Yes, Mr. Ezra may have money but showing cash in public is not the mark of the wealthy or of a successful business man....It is better suited for rappers in music videos (check Make It Rain and many others).

Lastly, this is a personal appeal, the word "tycoon" is an over-cliched in our newspapers; can we give it a break?