Several properties linked to the estate of the late businessman Apollo Nyegamehe, popularly known as Aponye, are facing possible sale nearly three years after his death as creditors move to recover unpaid loans.
In a public notice published in the Daily Monitor on Tuesday, 3 February 2026, law firm AF Mpanga gave the estate 30 days to settle outstanding debts or risk losing a number of assets. The properties listed include residential houses, warehouses and parcels of land in different parts of the country.
The notice did not disclose which financial institution the law firm represents. However, in collaboration with Cristal Advocates, the lawyers have initiated the process to sell at least six properties formerly owned by Aponye. These include a residential house on half an acre in Lower Naguru, a warehouse in Nalukolongo, land in Makindye, another warehouse in Masaka, and a property in Mubende District.
At the time of his death, Aponye was reported to owe creditors about Shs38 billion. In 2025, DFCU Bank and the Uganda Development Bank commenced legal proceedings to recover their money.
Some of the businessman’s assets have already been taken over or sold. His city mall above the Old Taxi Park was sold just three months after his death, while creditors also reportedly assumed control of the Aponye Complex in Ntinda.
Despite the mounting pressure from creditors, the government has previously attempted to intervene. Last week, President Yoweri Museveni directed Prime Minister Robinah Nabbanja to coordinate efforts to rescue the struggling businesses.
In a letter dated 28 April 2025, issued from State House, President Museveni responded to an appeal from Ms Vangi Nyegamehe, a shareholder in the company, who detailed the severe financial challenges facing the group.
“I have received your letter dated 3 April 2025 regarding the indebtedness of your companies,” 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.”
Apollo Nyegamehe, a native of Rukiga District, founded Aponye Uganda Limited in 1989 and grew it into a major business empire with interests spanning agribusiness, manufacturing, transport and hospitality. The company was also a key partner of the World Food Programme, supplying food under various contracts.
Nyegamehe died on 6 July 2023 in a road accident along the Mbarara–Kabale highway in Ntungamo District, after his vehicle rammed into a stationary truck. Following his death, his son, Harold Byamugisha, was appointed Managing Director to steer the company through its challenges.
