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.
“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.
