The Aponye city mall above the Old Taxi Park was sold barely three months after the businessman’s death
HABARI DAILY I Kampala, Uganda I Nearly three years after the death of businessman Apollo Nyegamehe, popularly known as Aponye, the once-expansive business empire he built over decades is steadily unraveling as creditors intensify efforts to recover billions of shillings in unpaid loans.
The conglomerate, Aponye (U) Ltd, which once dominated grain trading, logistics, and real estate, is being dismantled through the auctioning of its key assets to satisfy mounting debts estimated at over Shs 38 billion.
Fresh notices published this week indicate that more properties belonging to Nyegamehe’s estate are set for sale, underscoring the deep financial strain facing the businesses he left behind. In a public notice carried in the Daily Monitor on Tuesday, February 3, 2026, the law firm AF Mpanga issued a 30-day ultimatum to the estate to clear outstanding debts or forfeit several prime assets.
The properties earmarked for possible sale include residential houses, warehouses and plots of land in Kampala and upcountry districts, reflecting the scale—and vulnerability—of Aponye’s commercial footprint.
Working jointly with Cristal Advocates, AF Mpanga has moved to sell at least six properties formerly owned by the late businessman. 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. A warehouse in Nalukolongo and additional assets linked to his companies are also listed.
Nyegamehe’s estate is known to be heavily indebted. At the time of his death in July 2023, he was reportedly owing creditors about Shs38 billion. Last year, DFCU Bank and Uganda Development Bank formally initiated legal proceedings to recover part of the outstanding sums.
More property auctioned
Several high-profile assets have already slipped from the family’s control. His city mall above the Old Taxi Park was sold barely three months after his death, while creditors also took over the Ntinda-based Aponye Complex, once regarded as one of the flagships of his property portfolio.
The current developments build on earlier debt recovery efforts that became public in July 2025, when multiple properties owned by Aponye Uganda Limited were flagged for auction. Among them was the Aponye Complex on Semawata Road in Ntinda, a modern commercial building opened just a few years earlier and sitting on 0.35 acres of land. Nearby plots registered as Folio 12, Plots 2–4, were also targeted.
Other assets previously listed for sale included Block 273, Plot 22141 in Makindye, measuring approximately 0.98 hectares; a storied office block at Cross Roads in Nalukolongo under Folio 5, Plot 4; and another office block on Wankulukuku Road under Folio 6, Plot 4.
Following Nyegamehe’s death, his family publicly appealed to President Yoweri Museveni for financial assistance, highlighting the pressure creditors were already exerting on the estate. At the time, Aponye was not only a prominent businessman but also the National Resistance Movement (NRM) chairperson for Rukiga district, a role that amplified public interest in the fate of his businesses.
Apollo Nyegamehe died on July 6, 2023, after his vehicle rammed into a stationary truck along the Mbarara–Kabale highway in Itojo, Ntungamo district. As creditors continue to close in, his death is increasingly seen as the turning point that marked the slow but steady collapse of a once-formidable business empire.
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