KAMPALA, Uganda — A series of prime properties owned by Aponye Uganda Limited, the prominent company founded by the late businessman Apollo Nyegamehe, are at risk of public auction as the firm grapples with substantial loan arrears totaling Shs 15 billion.
Among the notable assets slated for auction is the modern Aponye Complex, a commercial building opened just three years ago along Semawata Road in Ntinda, Kampala. This iconic structure, occupying approximately 0.35 acres, is considered a landmark in the area. Adjacent land parcels—Folio 12, Plots 2–4—also situated along Semawata Road towards Nakawa, are similarly marked for sale.
The auction proceedings are being managed by Jalds (U) Limited, a firm specializing in debt recovery and property management.
In a public notice issued in June, the company stated that the auction is being conducted under the instructions of a financial institution. This action will proceed unless Aponye Uganda Limited or its guarantors settle all outstanding loan balances, accrued interest, and associated fees within 30 days of the notice’s 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 confirmed.
Occupants of the properties designated for auction have been given 14 days to vacate to facilitate inspection by potential buyers.
Further notices from law firms AF Mpanga and Cristal Advocates, acting on behalf of the registered mortgagees, reiterate similar warnings. Their advertisements list additional properties slated for auction:
- Block 273, Plot 22141, Makindye – approximately 0.9806 hectares
- Folio 5, Plot 4, Cross Roads, Nalukolongo – approximately 0.5962 hectares, developed with a multi-storey office block
- Folio 6, Plot 4, Wankulukuku Road – approximately 0.760 hectares, also developed with an office block
Apollo Nyegamehe, widely known as Aponye, was a distinguished entrepreneur hailing from Rukiga District. He established Aponye Uganda Limited in 1989, building it into a diverse business empire with significant interests spanning agribusiness, manufacturing, transportation, and hospitality.
Notably, Aponye Uganda Limited was a key partner with the World Food Programme (WFP) for food supply.
Tragically, Nyegamehe passed away on July 6, 2023, in a road accident along the Mbarara–Kabale highway in Ntungamo District when his vehicle collided with a stationary truck.
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Following his death, his son, Harold Byamugisha, assumed the role of Managing Director. As the company endeavors to navigate its founder’s passing and a growing debt burden, President Yoweri Museveni has instructed Prime Minister Robinah Nabbanja to lead a government intervention aimed at rescuing the embattled business.
In a letter dated April 28, 2025, issued from State House, President Museveni responded to an appeal from Ms. Vangi Nyegamehe, a shareholder in the company, who detailed the severity 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.”
The outcome of the government’s intervention and its timing relative to the scheduled auctions remains to be seen.
This situation underscores the formidable challenges businesses often face in the aftermath of their visionary founders’ departure, highlighting the delicate balance between debt recovery processes and the broader objective of economic preservation.
