By Spy Uganda
President Yoweri Kaguta Museveni has formally directed government intervention in the financial struggles of Aponye (U) Ltd, the business empire built by the late Ugandan tycoon Apollo Nyegamehe, popularly known as Aponye. In a letter dated April 28, 2025, addressed to Mrs. Vangi Nyegamehe—one of the shareholders and the widow of the late businessman—Museveni acknowledged the company’s current financial distress and tasked the Prime Minister to coordinate the Ministries of Finance and Science Innovation to rescue the business.
This presidential move comes amidst growing concerns over the collapse of Aponye’s once-vast business empire following his untimely death in July 2023.
The Rise of Aponye: From Kabale to Kampala Tycoon
Apollo Nyegamehe’s journey is one of grit and visionary entrepreneurship. Born in Kabale District, he began as a small-time trader, buying and selling agricultural produce. Over time, he steadily expanded his portfolio to include produce trading, logistics, milling, and fuel distribution.
By the early 2000s, Aponye had become a household name in Uganda’s grain and food supply sector. His company, Aponye (U) Ltd, became a strategic player in government food supply contracts, particularly during crises such as COVID-19 lockdowns when it supplied maize flour and beans to vulnerable Ugandans under government programs.
Aponye was also a significant figure in real estate, transport, and petroleum distribution, owning petrol stations and trucks that serviced both public and private sector clients. He was known for his close ties to the ruling NRM party and was a major campaign financier, which solidified his influence in political and economic circles.
Death and the Aftermath
The businessman died in a tragic road accident along the Kampala-Gulu highway in July 2023. His sudden demise left a leadership vacuum in his business empire. Sources close to the family and business insiders say internal management struggles and unclear succession plans began to plague the company soon after his passing.
His widow, Mrs. Vangi Nyegamehe, alongside other family members, struggled to hold the empire together as debtors and suppliers began demanding payment. The business also faced difficulty fulfilling ongoing supply contracts and managing the vast logistics and retail network left behind.
Several assets have since been reportedly auctioned to recover debts, and operations in parts of the country slowed drastically due to liquidity challenges.
Government Steps In
In the letter from State House, President Museveni acknowledges a letter received from Mrs. Vangi on April 3, 2025, detailing the company’s indebtedness. In response, he directed the Prime Minister to coordinate a multi-ministry effort to “rescue Aponye’s businesses.”
The move is seen by analysts as both a humanitarian gesture and a strategic economic decision. Aponye (U) Ltd employed hundreds and played a crucial role in Uganda’s food supply chain. Its collapse could disrupt commodity prices and job security, especially in rural areas where the company operated warehouses and supply chains.
Political and Economic Implications
The President’s intervention also reignites debate about Uganda’s dependency on politically connected business moguls and the risks associated with the collapse of such empires. While some argue the rescue effort is warranted due to the company’s contribution to national supply chains, others warn that government bailouts should come with strict accountability measures.
This also casts light on the issue of estate planning and business continuity in Uganda’s family-run enterprises, which often struggle to survive beyond their founders.
What Next?
As the government begins to coordinate efforts to salvage what remains of the Aponye empire, all eyes are now on how the involved ministries—especially Finance, Trade, and the Prime Minister’s Office—will structure the rescue package.
Will Aponye (U) Ltd be restructured, refinanced, or partly nationalized? Will the government use this as a model to support other struggling indigenous businesses post-founder demise? Only time will tell. The modern king 👑 chooses who to give a hand… Wavamuno’s friends are now advising him to change names to WAVAMUNO NYEGAMEHE🤣🤣
