Cristal Advocates Archives – CEO East Africa

Three Banks Move to Auction Late Billionaire Aponye’s Properties Over UGX 15 Billion Loan Arrears

Paul MurungiBanking & Financial Services The Big StoryJuly 3, 2025July 3, 2025

A consortium of commercial banks has initiated proceedings to auction off several prime properties belonging to the late billionaire businessman, Apollo Nyegamehe, popularly known as Aponye, in a sweeping debt recovery effort targeting loan arrears exceeding UGX 15 billion. According to sources close to the matter, dfcu Bank and the Uganda Development Bank (UDB) are among the financial institutions actively pursuing recovery of non-performing loans that were extended to Aponye’s business empire, primarily through his flagship company, Aponye (U) Limited. The debt portfolio, which has grown due to interest accumulation and prolonged non-repayment, is reportedly higher than initially estimated, with…

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UGANDA’S 100 OIL AND GAS LEADERS: Denis Kakembo, Managing Partner – Cristal Advocates

CEO ReporterEnergy, Oil & Gas Uganda's 100 Oil & Gas Leaders 2024May 21, 2025June 2, 2025

Denis Kakembo has solidified his standing as a notable legal practitioner and thought leader in energy, oil and gas and tax matters, serving as a trusted professional advisor to major…

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REVOLUTION OR EVOLUTION: Overhauling the Current International Taxation Structure

CEO ReporterThought LeadershipJuly 19, 2021July 19, 2021

In October 2019, we published a summary of some of the key challenges posed to existing tax systems by the internet. At that time, the Organisation for Economic Co-operation and Development “OECD” had intended to build a broad consensus on the way forward by the middle of 2020. The COVID pandemic has delayed this but July 2021 has seen major progress and the OECD hopes to finalise a detailed implementation plan by October 2021, following endorsement by the G7 and G20. This article provides a brief summary of the key proposals which will fundamentally change the way the international tax…

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