Down Memory Lane: When USPA patron Mike Ezra faced the press with $3m

The atmosphere at Emin Pasha Hotel was tense that morning. Journalists arriving for a press conference by sports philanthropist and USAP patron Mike Ezra were frisked by private bodyguards and asked to state their media houses before being allowed entry.

Scheduled to start at 8 a.m., the briefing had not yet kicked off by 10 a.m. Then, 30 minutes later, Ezra made his entrance, blue dotted shirt, black trousers, brown shoes, dark glasses firmly in place. Flashing a smile, he settled in and quipped, “So here I am. Fire away with your questions.”

Tax Battle With URA

The flamboyant businessman said he had called the media to “set the record straight” about reports that he owed the Uganda Revenue Authority (URA) more than Shs1.1 billion in taxes dating back to 2003–2005.

“I have been in touch with URA officials through lawyers and auditors. There has been back and forth, but I never said I will not pay the tax,” Ezra said.

He denied being under any travel ban, saying he only heard about such claims from the press.

Loan Dispute

Questions then shifted to reports that Ezra had failed to repay Shs400 million borrowed from the National Bank of Commerce. The Commercial Court had recently ordered him to pay back the loan with a hefty 31% annual interest.

Ezra admitted borrowing the money but downplayed the issue:

“I am not the only one who borrows money. I did not say that I won’t pay. Yes, there were misunderstandings with the bank—but which businessperson doesn’t have misunderstandings with a bank? Is that newsworthy?”

“Am I Broke?”

At that point, one journalist bluntly asked whether he was broke.

Ezra shot back sarcastically, “Am I broke?” Then, turning to an elderly aide, he murmured something in Kiswahili. Moments later, the man returned with a large black bag.

When he unzipped it, gasps filled the room. Inside were stacks of crisp U.S. dollar bills.

“That is three million dollars,” Ezra declared with a laugh. “So, am I broke?”

With that theatrical flourish, the press conference ended. But the spectacle left a lasting mark.

Ezra’s dramatic cash display set the tone for what would soon become a norm in Kampala’s public life, businessmen and politicians flaunting wads of cash to prove their wealth, power, or generosity.

This also became one of the most talked-about episodes of Ezra’s flamboyant career, sealing his reputation as Uganda’s master of showbiz