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Properties owned by Aponye Uganda Limited, the company founded by the late businessman Apollo Nyegamehe, could be auctioned soon.
According to adverts, one of the assets to be auctioned is Aponye Complex, one of the most beautiful buildings in Ntinda, located on Semawata Road. It was opened some three years ago and sits on 0.35 acres.
Apollo Nyegamehe also owned FOLIO 12 PLOTS 2-4 on the aforementioned road, heading towards Nakawa. These plots also sit on approximately 0.35 acres. These properties, including the complex, are being auctioned by Jalds (U), a company that deals in debt recovery, property management, and more.
"Upon instructions from our client, a financial institution, we shall proceed to sell by Public Auction/Private Treaty the properties mentioned below. Unless Aponye (U) Ltd or its guarantors pays our client the outstanding loan balances, interest, plus our fees and disbursements before the date of sale," reads a notice published in a local daily in June.
Aponye has been given 30 days to make payment, and occupants are to vacate within 14 days to allow buyers to inspect the premises.
Law firms AF Mpanga and Cristal Advocates have also published an advert promoting the auction of Aponye’s properties.
"On behalf of our clients, the registered mortgagees, we shall proceed to sell by Public Auction/Private Treaty the properties mentioned below, together with the developments thereon, unless Aponye (Uganda) Limited of P.O Box 24765, Kampala, debtor/mortgagor pays our clients all the outstanding loan balance (principal & interest), our fees, and costs before the expiry of thirty (30) days from the date of publication," the advert reads.
The properties being auctioned include:
Block 273, Plot 22141, Makindye (approximately 0.9806 hectares)
Folio 5, Plot 4, Cross Roads, Nalukolongo (approximately 0.5962 hectares), developed with a storied office block
Folio 6, Plot 4, Wankulukuku Road (approximately 0.760 hectares), developed with an office block, among others.
Apollo Nyegamehe, also known as Aponye, tragically died in a car accident on Thursday evening, July 6, 2023, along the Mbarara-Kabale highway in Ntungamo district.
He was travelling to Rukiga District when his vehicle collided with a stationary truck.
The businessman, who hailed from Rukiga District, started Aponye in 1989.
He was involved in agribusiness, manufacturing, hospitality, and transportation. His company was so influential that it earned a partnership with the World Food Programme to supply food.
Following his death, Apollo was succeeded by his son, Harold Byamugisha, as managing director.