Equity Bank and Dei Group Clash Over Mortgaged Property Auction

A high-stakes financial confrontation is unfolding in Uganda as Equity Bank moves forward with plans to auction mortgaged properties belonging to Dei Group. The brewing conflict intensified following a November 5 notice published by auctioneers Jald, which publicly offered the contested properties to prospective buyers.

In response to the auction notice, Dei Group has strongly contested the move, issuing a public warning advising all potential buyers to keep off the properties. The company maintains that the attempts to sell the assets are disputed and urges the public not to engage with the auction process.

The standoff highlights ongoing tensions between major financial institutions and corporate borrowers over debt recovery and asset liquidation in the Ugandan market. Legal and financial analysts are closely monitoring the situation as both sides stand their ground regarding the ownership and mortgage status of the disputed properties.

For more details on this developing story, read the original report on the Daily Monitor.