
Biyinzika’s Shs.40bn poultry business empire collapses over Bank Loan.
Samuel Mukasa, Uganda’s most prominent and wealthy poultry business mogul, is set to lose his multi-million dollar company properties over a bank loan.
Mukasa has been running Biyinzika Enterprises Ltd for the last 31 years.
The company, which runs hatcheries and sells chicks across East Africa, previously controlled about 65% of Uganda’s poultry market share before the COVID-19 pandemic.
The outbreak of the pandemic saw the company lose most of its market, suppliers and employers.
Details of the bank loan remain unclear.
However, the lenders’ lawyers Tumusiime, Kabega & Co. Advocates have since advertised Biinzika’s properties, saying they will be auctioned by October 12, 2023.
“Duly instructed by our client, the registered mortgage, a financial institution, we do hereby give notice o...