One of the arcades owned by Kampala businesswoman Teopista Nabbaale has been auctioned by Exim Bank Uganda, this website has learnt.
The arcade in Kabalagala Kisugu at Kyadondo block 244 plot 541 sitting on 0.15 acres was sold to one Ponsiano Ntami of Ntami Investment Limited.
The auction followed failure by Nabbaale, a member of the Kwagalana Group to complete a loan she took from the bank.
It is said Nabbaale acquired a shs5 billion loan from the bank using her land title as security but later protested the amount the bank was demanding from her.
While the bank said it was demanding shs9 billion, the businesswoman claimed it was only demanding shs5 billion and while court directed her to file an application protesting the additional shs4 billion, Nabbaale failed.
On June ,30, 2026, the Commercial Division of the High Court in Kampala directed bailiff Moses Mutesasira of Mutesasira Court Brokers and Associates to attach the property after Nabbaale failed to pay shs10.65 billion which was a principal sum of the suit by Exim Bank Uganda.
This was stemming from a 2022 suit by the bank.
“This is to command you to attach the said immovable properties of Teopista Nabbaale as set forth in the schedule, on the reverse hereof and which shall be pointed out to you by the said plaintiff( Exim Bank Uganda), agents, advocates and unless the said judgement debtor shall pay to you the said sum of shs10.65 billion as principal sum of the suit together with costs of executing this process,” the court said in its warrant of attachment.
The same court would later direct the bailiff to ensure Ntami Investment Limited take possession of the property after successfully purchasing it.
“You are hereby ordered to put Ntami Investment Limited, the certified purchaser as aforementioned in possession of the property. You are also ordered to remove anybody who may refuse to vacate the same, “the court’s assistant registrar Mastula Mulondo said in an order for delivery to the purchaser of the said property.
In the same order, Police was directed to ensure that the execution is done in an orderly and peaceful manner.
In what seemed like kicks of a dying horse, Nabbaale on October, 7, 2026 wrote to the deputy Resident City Commissioner for Makindye alleging illegal attempts to grab her property.
“I have come across a document purporting to charge ownership of my above property written by Barenzi and Partners Advocates dated on the 6th October 2026.This is to notify you and the various relevant offices that I have never changed ownership of my above property as alleged. All matters relating to the above property are in courts of law and currently on appeal,” Nabbaale wrote.
However, these attempts by Nabbaale to save her property couldn’t succeed as the same had already been auctioned to Ntami Investment Limited.
Nabbaale operates under her company Jesus and Nabbaale Limited and calls herself Mary’s daughter.
She has a number of property in Kampala including arcades and prime land along Martin Road, Namirembe Road, and Kansanga among others.
She has also been listed among the tycoons who own Kampala.
