UGX 250 Billion Shockwave: Bosco Muwonge Buys Mukwano Mall in Record All-Cash Deal

In a historic real estate shake-up, property mogul John Bosco Muwonge popularly known as Ntere Nfune has purchased the iconic Mukwano Mall in downtown Kampala for a staggering UGX 250 billion ($65 million) in an all-cash transaction.

The acquisition is now being hailed as the largest private commercial property deal in Uganda’s modern history. Confirmed through land registry records and sources close to the deal, the purchase was completed without bank loans, partners, or foreign financing an unmatched feat in East Africa’s real estate sector.

Muwonge, known for his discreet but dominant ownership style, reportedly controls vast sections of Kampala’s Central Business District, with major stakes across Luwum Street, Nabugabo, Kisekka, and the Old Taxi Park zone.

The Mukwano deal has triggered an immediate shift in property valuations, paused sales, and reignited debate on urban zoning and monopolies. Yet tenants praise Muwonge’s efficient property management.

Industry watchers now anticipate his next move whether in residential towers, logistics, or beyond—will define Kampala’s future skyline