KAMPALA — Mukono-based businessman Augustine Kasozi is facing stress after a Ugandan court refused to halt the auction of his assets over an unpaid loan of Shs778 million.
Kasozi, known for owning the Colline Hotel and Mukono Bookshop, had sought a court injunction to stop the sale of his properties, arguing that the execution of the debt orders should be stayed.
Court dismisses application
In her ruling, Justice Joyce Kavuma of the Civil Division of the High Court said Kasozi failed to provide a satisfactory explanation for waiting more than five years before filing the stay application.
“The applicant has not shown sufficient cause to warrant staying the execution of the orders he now seeks to challenge,” Justice Kavuma noted.
The court dismissed the application with costs, allowing the auction of Kasozi’s assets to proceed.
Impact on Kasozi’s business empire
The ruling means that the properties under the tycoon’s multibillion-shilling empire—including his hotel and bookstore—could be sold to recover the outstanding debt.
This case highlights the challenges faced by entrepreneurs in Uganda who struggle with loan repayments, as well as the judiciary’s strict stance on delays in seeking legal relief against debt recovery processes.
The auction is expected to proceed in the coming weeks unless Kasozi files a successful appeal.
