Kampala businesswoman Teopista Nabbaale has lost one of her properties after an arcade located in the Kabalagala-Kisugu area was auctioned to recover a debt linked to a loan dispute with Exim Bank Uganda. The property was reportedly purchased by Ponsiano Ntami, representing Ntami Investment Limited, following court proceedings over the unpaid debt.
The arcade is located on Kyadondo Block 244, Plot 541, and sits on approximately 0.15 acres of land. Nabbaale, who is associated with the Kwagalana Group, reportedly used the property’s land title as security when obtaining a loan from Exim Bank Uganda. However, a disagreement later emerged over the amount she owed the financial institution.
According to the report, Nabbaale initially obtained a loan of about Shs5 billion, but the bank maintained that the amount being demanded had increased significantly. While Exim Bank reportedly claimed it was owed Shs9 billion, Nabbaale disputed the figure, insisting that her outstanding obligation was Shs5 billion. The disagreement eventually became part of a legal battle between the two parties.
The dispute dates back to a case filed by the bank in 2022. On June 30, 2026, the Commercial Division of the High Court in Kampala reportedly directed court bailiff Moses Mutesasira of Mutesasira Court Brokers and Associates to attach Nabbaale’s property after she failed to pay the amount stated in the court process. The warrant cited Shs10.65 billion as the principal sum, together with the costs of executing the process.
Following the auction, the court issued a further order directing the bailiff to hand over the property to Ntami Investment Limited as the certified purchaser. Assistant Registrar Mastula Mulondo also instructed that anyone refusing to leave the premises could be removed, while police were directed to ensure the process was conducted peacefully and in an orderly manner.
Nabbaale later attempted to challenge what she described as an illegal move involving her property. In a letter dated October 7, 2026, addressed to the Deputy Resident City Commissioner for Makindye, she alleged that there were attempts to take control of the property unlawfully. She maintained that she had not changed its ownership and argued that matters concerning the property were still before the courts, with an appeal reportedly pending.
However, the reported auction and subsequent court order for delivery of the property to the buyer meant that Nabbaale’s efforts to retain the arcade faced a major setback. The case highlights the financial and legal consequences that can arise when borrowers and lenders disagree over outstanding obligations, particularly where valuable property has been pledged as security.
Nabbaale operates through Jesus and Nabbaale Limited and is known for her investments in Kampala real estate. She reportedly owns several other properties, including arcades and prime land in areas such as Martin Road, Namirembe Road and Kansanga. Although the loss of the Kabalagala arcade marks a setback in her property portfolio, the full implications of the reported appeal and any further court proceedings remain unclear.
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