MUKONO BUSINESSMAN AUGUSTINE KASOZI FACES FINANCIAL CRISIS

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A High Court ruling in Uganda has dealt a significant blow to Mukono businessman Augustine Kasozi's empire, with his prized properties set to be auctioned over an unpaid Shs778 million debt. 

Justice Joyce Kavuma dismissed Kasozi's application to halt the auction, citing an "inordinate" delay in addressing the issue.



The creditor, Magdalene Lamwaka, is seeking to recover the outstanding loan, and the court has ruled in her favor. 

This is not Kasozi's only financial wail, with Bank of Baroda also threatening to auction more of his assets over separate debts.


Kasozi's once-thriving empire, which includes Collin Hotel and Mukono Bookshop, is now on the brink of collapse.

 The business community is abuzz with the news, as a respected figure struggles to salvage his reputation and assets.



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