Prominent businessman Muhammed Ssebagala, proprietor of Ssebagala & Sons and owner of the Light of the World Electrical Shops in Kiyembe, is staring at the collapse of his once-thriving electronics empire as financial troubles deepen.Court bailiffs, acting on behalf of Diamond Trust Bank (DTB), have threatened to auction off Ssebagala’s remaining assets to recover an outstanding loan of Shs 1.28 billion. The bank has moved to enforce a court ruling authorizing asset seizure after years of legal wrangling over the debt.Notices issued by the bailiffs warn that unless the businessman settles the debt promptly, his properties will be put up for public auction.Ssebagala, who was once a dominant player in Kampala’s electronics trade, is said to have closed several of his shops years ago as financial difficulties set in. Insiders link his troubles to an earlier loan from city tycoon Sudhir Ruparelia, whose recovery efforts reportedly led to the loss of most of Ssebagala’s shop stock and properties. This left him financially crippled and unable to meet obligations to other lenders, including DTB.In a desperate bid to save his remaining assets, Ssebagala has petitioned the Commercial Court for an injunction to halt DTB’s enforcement action. He argues that the court ruling was unfair and insists he had already paid nearly half of the loan before the bank escalated the matter. He also questions how the debt ballooned back to over Shs 1 billion.However, DTB’s legal team has dismissed these claims as unfounded. The bank points to what it calls “deliberate attempts to frustrate recovery efforts,” noting that Ssebagala’s wife, Hajjat Rehema, who was linked to the loan, had earlier distanced herself from the transaction and refused to cooperate with the bank.Ssebagala’s financial collapse has sent ripples through Kampala’s business community, where his rise and fall are being viewed as a cautionary tale about over-leveraging with both informal lenders and mainstream financial institutions.What was once a sprawling downtown electronics empire now hangs by a thread as legal and financial pressures mount.The post Tycoon Meddie Ssebagala’s Electronics Empire Faces Collapse Over Shs 1.2 Billion DTB Loan appeared first on The Insider.