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Centenary Bank moves to auction businessman Joseph Kiyimba’s Club Ambiance, other properties over unpaid billions in debt After three decades shaping Uganda’s entertainment scene, Joseph Kiyimba’s empire faces its toughest test as auctioneers close in.

City businessman Joseph Kiyimba's Club Ambiance is set to be auctioned over unpaid debts.

Centenary Bank has instructed Banu General Agencies, a firm of auctioneers and bailiffs, to sell properties belonging to city businessman Joseph Kiyimba after he allegedly defaulted on loan obligations. The properties include the famous Club Ambiance in Bakuli, one of Kampala’s most iconic nightspots. According to a public notice issued by Banu General Agencies, the auction will be carried out under the Mortgage Act No. 8 of 2009 and related regulations unless the debtor, Ambiance Distillers Limited, clears the outstanding principal, interest, and related costs before the date of sale. Properties up for auction The notice lists Plot 1481, Block…

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About the Author

Paul Murungi is a Ugandan Business Journalist with extensive financial journalism training from institutions in South Africa, London (UK), Ghana, Tanzania, and Uganda. His coverage focuses on groundbreaking stories across the East African region with a focus on ICT, Energy, Oil and Gas, Mining, Companies, Capital and Financial markets, and the General Economy.

His body of work has contributed to policy change in private and public companies.

Paul has so far won five continental awards at the Sanlam Group Awards for Excellence in Financial Journalism in Johannesburg, South Africa, and several Uganda national journalism awards for his articles on business and technology at the ACME Awards.

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