Matooke Republic
Thursday, July 10, 2025
  • Home
  • News
  • Entertainment
  • Gossip
  • Features
  • Business
  • Sports
  • Health
  • Photos
  • Relationships
Matooke Republic
  • Home
  • News
  • Entertainment
  • Gossip
  • Features
  • Business
  • Sports
  • Health
  • Photos
  • Relationships
No Result
View All Result
Matooke Republic
No Result
View All Result

Properties owned by late billionaire Aponye at risk of auction over Shs15 billion loan arrears

Matooke Republic by Matooke Republic
July 4, 2025
in News
Reading Time: 3 mins read
The late businessman Apollo Nyegamehe.

The late businessman Apollo Nyegamehe.

76
SHARES
Share on FacebookShare on Twitter

A series of prime properties owned by Aponye Uganda Limited, the company founded by the late businessman Apollo Nyegamehe, are at risk of being auctioned as the business grapples with Shs15 billion loan arrears.

Among the properties slated for auction is the iconic Aponye Complex, a commercial building located along Semawata Road in Ntinda, Kampala. Opened just three years ago, the complex occupies approximately 0.35 acres and is considered one of the most prominent buildings in the area. Adjacent land parcels—Folio 12, Plots 2–4—also located along Semawata Road toward Nakawa, are similarly marked for sale.

The auction is being coordinated by Jalds (U) Limited, a firm specialising in debt recovery and property management. In a public notice issued in June, the company stated that the auction is being carried out under instructions from a financial institution, unless Aponye Uganda Limited or its guarantors clear the outstanding loan balances, accrued interest, and associated fees within 30 days of publication.

RELATED POSTS

Supreme Court acquits landlord who had been serving a 10-year sentence for raping tenant’s maid in Kyebando

NUP to miss out on Shs7.5 billion each political party is supposed to receive from government — Here’s Why

“As instructed by our client, a financial institution, we shall proceed to sell by public auction or private treaty the properties listed below unless the debtor satisfies all outstanding obligations within the specified timeframe,” the notice reads. Occupants of the listed properties have been given 14 days to vacate, to allow potential buyers to inspect the premises.

Further notices placed by law firms AF Mpanga and Cristal Advocates on behalf of the registered mortgagees echo similar warnings. Their adverts outline additional properties due for auction:

  • Block 273, Plot 22141, Makindye – approx. 0.9806 hectares
  • Folio 5, Plot 4, Cross Roads, Nalukolongo – approx. 0.5962 hectares, developed with a multi-storey office block
  • Folio 6, Plot 4, Wankulukuku Road – approx. 0.760 hectares, also developed with an office block

Apollo Nyegamehe, widely known as Aponye, was a prominent entrepreneur from Rukiga District. He founded the company in 1989 and built it into a diversified business empire with interests in agribusiness, manufacturing, transportation, and hospitality. Notably, Aponye Uganda Limited partnered with the World Food Programme to supply food.

Nyegamehe died tragically on July 6, 2023, in a road accident along the Mbarara–Kabale highway in Ntungamo District when his vehicle collided with a stationary truck. Following his passing, his son, Harold Byamugisha, took over as Managing Director.

As the company struggles to recover from its founder’s death and mounting debts, President Yoweri Museveni has directed Prime Minister Robinah Nabbanja to lead a government intervention to help rescue the embattled business.

In a letter dated April 28, 2025, issued from State House, the President responded to an appeal by Ms Vangi Nyegamehe, a shareholder in the company, who outlined the depth of the financial crisis.

“I have received your letter dated the 3rd of April, 2025, regarding the indebtedness of your companies,” President Museveni wrote. “By copy of this letter, I direct the Rt. Hon. Prime Minister to coordinate the Ministries of Finance and Science and Innovation in the effort to rescue Aponye’s businesses.”

While it remains to be seen whether government intervention will come in time to halt the planned auctions, the situation highlights the challenges businesses often face in the absence of their visionary founders—and the delicate balance between debt recovery and economic preservation.

Related

Tags: AuctionBusinessman Aponye
Share30Tweet19Send
Matooke Republic

Matooke Republic

Freshly peeled info from area code 256

Related Posts

Richard Kavuma Mulimi, a businessman in Muduuma, Mpigi district .

Mpigi businessman who faked own death and none of his wives came, says he’ll donate his wealth to the church

by William Kasoba
2 years ago

...

Aponye’s driver charged, remanded to prison

by Matooke Republic
2 years ago

...

Driver arrested as Police investigate fatal accident that claimed life of businessman Aponye

by Matooke Republic
2 years ago

...

Police speak out on accident that claimed life of businessman Aponye

by Matooke Republic
2 years ago

...

Next Post
Article by Aamir Hussain, the Head, Corporate Banking at United Bank for Africa Uganda Ltd.

OPINION: Corporate Banking provides value to society

Johnnie Walker commemorates first She Walks anniversary with a powerful celebration of women in leadership

RECOMMENDED

Isaiah Katumwa addressing members of the press.

Johnnie Walker Green Label to Celebrate Jazz Icon Isaiah Katumwa’s 30-Year Musical Journey

July 10, 2025

Pearl Tower One: Meera Investments unveils Kampala’s landmark Grade-A office building

July 10, 2025
  • 643 Followers
  • 23.9k Followers

MOST VIEWED

  • Here is how to use NIRA’s new online portal to register or renew your national ID

    3912 shares
    Share 1565 Tweet 978
  • DNA test confirms late MP Ssegirinya was father to only 4 of 9 children presented after his death

    96 shares
    Share 38 Tweet 24
  • Kampala University proprietor Prof Kateregga’s wife rejects DNA results indicating one of three children is not his, demands fresh test in the United States

    93 shares
    Share 37 Tweet 23
  • Properties owned by late billionaire Aponye at risk of auction over Shs15 billion loan arrears

    76 shares
    Share 30 Tweet 19
  • Pastor Bugingo’s daughter Doreen Gift awarded scholarship to Arizona State University in the US

    61 shares
    Share 24 Tweet 15
Matooke Republic

Uganda's only free Newspaper. Out every Thursday. Freshly peeled info. kiwatule, Kampala, Uganda.

  • Home
  • News
  • Entertainment
  • Gossip
  • Features
  • Business
  • Sports
  • Health
  • Photos

© Matooke Republic 2024

© Matooke Republic 2024

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.