Unpaid Loans Push More Aponye Assets Toward Forced Sale

Creditors are ramping up pressure on the estate of  the late Ugandan businessman Apollo Nyegamehe, known as Aponye, with plans to auction off additional properties to recoup billions in outstanding loans almost three years after his fatal car accident.

A legal notice issued Tuesday in the Daily Monitor newspaper by the Kampala-based firm AF Mpanga demands that the estate settle the debts within 30 days or face the forced sale of several assets, including homes, storage facilities and undeveloped land parcels.

The firm, established by prominent attorney and Buganda kingdom official David Mpanga, is collaborating with Cristal Advocates on the recovery effort. It did not specify the client bank involved, but the targeted holdings include a half-acre residence in Lower Naguru, a warehouse in Nalukolongo, land in Makindye, another storage site in Masaka and property in Mubende district.

Nyegamehe, who chaired the ruling National Resistance Movement party in Rukiga district, died July 6, 2023, when his car struck a parked truck on the Mbarara-Kabale highway en route to his home area. At the time, his debts were estimated at around 38 billion Ugandan shillings ($10 million).

Recovery actions have escalated since last year, when DFCU Bank and the Uganda Development Bank initiated court proceedings. Some assets have already been liquidated, such as a downtown mall overlooking the Old Taxi Park, sold just months after his death, and the Aponye Complex in Ntinda, which creditors seized.

This latest push follows a July 2025 auction notice for properties tied to Aponye Uganda Limited, handled by debt collector Jalds (U) Ltd. Those included the Ntinda complex on Semawata Road, spanning 0.35 acres, along with adjacent plots and sites in Makindye, Nalukolongo and Wankulukuku Road featuring office buildings.

The firm warned tenants they would have two weeks to leave for buyer inspections. In the wake of Nyegamehe’s death, his relatives sought assistance from President Yoweri Museveni to manage the financial fallout.