By Sadique Bamwita
Kampala
Tycoon Mathias Magoola’s Dei Biopharma, is under public auction after a debt collection firm advertised several properties belonging to Dei Industries International Limited and associated entities for sale by public auction or private treaty over outstanding loan obligations.
According to a public notice dated November 5,2026, published by Jald Uganda, a debt collection and auctioneering firm, indicates that properties associated with Dei Industries International Limited, Dei Natural Products International Limited and individuals linked to the business are being lined up for disposal following instructions from a financial institution.
The notice issued under the Registration of Titles Act and Mortgage Act, gives the debtors an opportunity to clear outstanding loan balances, interest, fees and disbursements before the sale.
The properties advertised include industrial establishments, commercial buildings, residential developments and land in different parts of Kampala and Wakiso.
The latest auction notice is troubling because it comes after the Government committed a cumulative Shs723.4 billion to Dei BioPharma, a privately operated pharmaceutical manufacturing enterprise associated with businessman Dr.Mathias Magoola.
According to the Auditor General’s report for the financial year ended June 2024, the Government’s investment comprised:
- Shs70 billion appropriated in the 2023/2024 financial year.
- Shs75 billion added in December 2023.
- Shs578.4 billion approved through a supplementary budget to support debt obligations and operational requirements.
The total government commitment reached Shs723.4 billion.
The Shs578.4 billion allocation was particularly significant because it was intended, among other things, to help the company settle its financial obligations and complete its manufacturing operations.
In August 2024, Equity Bank Uganda and Equity Bank Kenya filed a civil suit in which they alleged that Dei Industries International and associated companies had failed to clear outstanding loan obligations despite receiving the government funding.
The banks reportedly claimed that the companies owed Shs82.2 billion to Equity Bank Uganda and US$43.23 million to Equity Bank Kenya.
According court records the banks alleged that the Shs578.4 billion had been channelled through another bank rather than being used to settle the outstanding facilities as expected.
However, the companies disputed the loan calculations and sought an audit and reconciliation of their accounts. These were allegations made in the litigation, not a final judicial determination of the debt.
In September 2026, the Court of Appeal stayed proceedings in the commercial dispute between Dei Industries International, Dei BioPharma, Mathias Magoola and the two Equity Bank entities pending determination of an intended appeal.
The companies had challenged the audit process being used to establish the outstanding loan balance. The court’s decision to stay proceedings did not determine the amount owed or extinguish the underlying loan obligations.
The new auction advertisement therefore comes against the background of a long-running dispute over loans used to finance the group’s business interests and pharmaceutical manufacturing project.
The Jald notice identifies several properties registered in the names of Dei Industries International Limited, Dei Natural Products International Limited, Mathias Magoola and other associated proprietors.
Among the advertised assets are:
1. Matugga industrial property: Approximately 20.673 acres comprising a factory establishment, registered under Kyadondo Block 82, Plots 988, 3325 and 3326.
2. Kyamuli-Kungu property: Plots 2338, 4778 and 4779, Kyadondo Block 82, registered in the names of Dei Natural Products International Limited and Mathias Magoola.
3. Luzira wheat milling plant: Multiple properties along Sixth Link Road, Luzira, including a fully integrated and operational wheat milling plant belonging to Dei Industries International Limited.
4. Muyenga-Kisugu property: Approximately 0.247 acres, comprising a residential establishment, registered in the name of Mathias Magoola.
5. Kitende property: Approximately 0.457 acres at Busiro Block 383, Plots 5641 and 5642, described as a hospital belonging to Dei Industries International Limited.
6. Seguku commercial property: Approximately 0.10 acres at Kyadondo Block 266, Plot 149, registered in the name of Rutungu Investments.
7. Katwe commercial property: Plot 491, Kibuga Block 6, registered in the name of Dei Industries International Limited.
The diversity of the properties is significant. The notice covers assets spanning pharmaceutical-related industrial establishments, food processing, healthcare, residential developments and commercial real estate
The auctioneer says the sale will take place 30 days after the advertisement, at its offices, and the terms of sale are cash, bank draft or RTGs.
The notice also requires occupants to vacate the properties within 14 days to enable prospective buyers to inspect the premises.
Meanwhile, the notice does not disclose the identity of the financial institution, the total outstanding loan balance or the reserve prices of the properties.
It also does not establish that every advertised property belongs to Dei BioPharma Limited itself. Several are registered under separate legal entities and individuals.
