By Spy Uganda
Once hailed as a towering force in Uganda’s agro-processing, manufacturing, and real estate sectors, the Aponye Group is now on the brink of collapse, with its core assets being auctioned off to repay mounting debts.
According to a public notice issued today by AF Mpanga Advocates, several prime properties under the conglomerate — including estates in Makindye, the Nalukolongo Grain Factory, and manufacturing plants in Masaka and Mubende — are up for public auction.
In a related development, Cristal Advocates has assumed control of the sale of the Quality Polybags Factory, a critical arm of the group’s packaging division.
The liquidation signals the dramatic unraveling of a business empire built by the late Apollo Nyegamehe, popularly known as Aponye. From humble beginnings, Nyegamehe rose to become one of Uganda’s most prominent businessmen, lauded for his investments that spanned key economic sectors and provided thousands of jobs.
However, the empire began to spiral in July 2023, following Nyegamehe’s untimely death in a car accident. Insiders and industry observers believe his demise created a leadership vacuum that the company has since failed to fill.
Adding to the intrigue, months before his passing, Nyegamehe’s son was allegedly abducted by state operatives over a reported refusal to surrender sensitive corporate documents to unnamed individuals with deep political connections. The incident fuelled speculation about a shadowy power struggle behind the scenes.
Observers now link the collapse to a confluence of factors: internal wrangles, unclear succession planning, ballooning liabilities, and the erosion of high-level political backing.
“The late political analyst Tamale Mirundi once warned that Aponye’s rise was tied to invisible hands at State House,” said one source close to the company. “When that support was withdrawn, the foundations crumbled.”
Beyond the boardroom drama and political whispers lies a human tragedy. Hundreds of workers employed across Aponye’s factories and offices now face uncertain futures as the company’s key assets go under the hammer.
“It’s heartbreaking,” said a former employee at the Nalukolongo facility. “This company gave hope to many Ugandan families. We were proud to be part of something that felt big and promising.”
The fall of Aponye Group stands as a stark reminder of how even the most powerful business empires can unravel in the absence of robust governance, transparency, and succession planning.
With auctions already underway, many in Uganda’s business and political circles are watching closely — not just to see what remains of the once-mighty group, but also to understand what its demise reveals about the intersection of commerce, politics, and power in the country.
