Mediation Ends $17M Legal War: Tycoon Patrick Bitature and Vantage Capital Settle Long-Running Loan Dispute

KAMPALA, Uganda — One of East Africa’s most high-profile corporate battles has come to a sudden end after Ugandan tycoon Patrick Bitature and South African mezzanine lender Vantage Capital resolved their intense $17 million (UGX 71.49 billion) legal dispute through court-led mediation.

The breakthrough, brokered by Supreme Court Justice Lillian Tibatemwa-Ekirikubinza, successfully terminates 34 interconnected lawsuits spanning multiple jurisdictions, including 18 cases in Uganda’s High Court, 13 in the Supreme Court, and three within the courts of England and Wales.

While the exact terms of the settlement remain strictly confidential, the resolution closes a bitter seven-year chapter that threatened to dismantle parts of Bitature's vast business empire.

Timeline of a Seven-Year Corporate Battle

The roots of the conflict trace back over a decade, evolving from a standard corporate financing agreement into an aggressive web of litigation [1]:

December 2014: Vantage Mezzanine Fund II Partnership extends a $10 million term loan to Simba Properties Investment Co. (part of Bitature’s Simba Group) to refinance existing debt and fund real estate developments 

 The loan is personally guaranteed by Bitature and his wife Carol, and secured against premier group properties including the Elgon Terrace Hotel, Simba Telecom, and Linda Properties.

2021–2022: Following an alleged default, the debt balloons due to interest and penalties [1]. Uganda's Commercial Court refers the matter to arbitration [1]. In 2022, Vantage attempts to auction off the mortgaged properties to recover over $32 million, a move swiftly challenged by Simba Group.

July 2023: An arbitrator under the International Chamber of Commerce (ICC) rules entirely in favor of Vantage Capital.

November 2023: Uganda’s High Court freezes the assets, barring the Simba companies and guarantors from altering property ownership or shifting shareholdings while Vantage enforces the multi-million dollar award.

August–October 2025: The battle reaches a boiling point in the higher courts. The Court of Appeal throws out Simba’s appeal [1]. However, in October 2025, Supreme Court Justice Elizabeth Musoke grants Simba an interim stay of execution to prevent Vantage from immediately seizing the assets.

Recent Settlement: Before the Supreme Court could issue a final ruling on the substance of the case, both parties opt for mediation under Civil Appeal No. 28 of 2025, successfully halting all active litigation .

A Quiet Resolution to Massive Stakes

The judiciary has not disclosed the financial terms of the truce, leaving it unclear how much capital changed hands or if the highly contested prime real estate has been fully released back to the Simba Group.

Robert Kirunda of Kirunda & Co. Advocates, who represented Vantage Capital throughout the grueling legal saga, took an active role in the successful mediation sessions.

The Parties at a Glance

• Patrick Bitature & Simba Group: Founded in 1998, Simba Group began as a mobile phone airtime distributor (Simba Telecom) and grew into a powerful East African conglomerate spanning real estate, hospitality, energy, agribusiness, and media.  Bitature remains one of Uganda's most prominent public and business figures.

• Vantage Capital: Headquartered in Johannesburg, South Africa, Vantage is one of the continent's largest mezzanine lenders, specializing in providing tailored debt and equity-like growth financing to mid-sized African enterprises.