Friends Launch Shs 655 Million Drive to Save Late Cedric Babu’s Kololo Home from Auction
Friends of the late former PLU Vice President Cedric Ndilima Babu are mobilizing to raise Shs 655 million in a bid to prevent his Kololo condominium from being auctioned by Kenya Commercial Bank (KCB) Uganda.
The bank has issued a 21-day ultimatum to clear $182,709 (approximately Shs 655 million) owed on the property, located at Plot 1, Fumu Lane, or face foreclosure. The home is currently valued at an estimated Shs 1.2 billion.
Fred Mwesigye, a close associate of the deceased, has rallied friends to contribute towards settling the debt and preserving Cedric’s legacy.
“I need only 200 very close and genuine friends of the late Babu. If each of us can contribute Shs 3 million, we can raise the required amount in a single day,” Mwesigye said.
“Cedric was a very good man and a friend to everyone. Let us honor him and protect his integrity.”
Mwesigye has called on veteran journalist Alan Kasuijja, also a close friend of the deceased, to head the fundraising initiative.
Comedian Patrick Salvado has thrown his weight behind the effort, though he suggests awaiting the outcome of ongoing court proceedings.
“Let’s await the court decision. If it doesn’t go in our favor… I know we can do this. My Shs 3 million is ready,” Salvado stated.
At the core of the dispute is a $200,000 mortgage Cedric secured from KCB in July 2023 to purchase the Kololo condominium. The loan agreement included a Group Mortgage Protection Policy—a life insurance cover designed to clear the outstanding balance in the event of the borrower’s death.
According to the bank, the insurance policy lapsed in August 2024 due to unpaid premiums. However, Cedric’s family maintains that he fulfilled all his obligations and that the bank, acting as intermediary, should have ensured the policy remained active. The family argues the insurance was specifically intended to protect them from such circumstances following Cedric’s death on May 31, 2025.
The matter is currently before the Commercial Division of the High Court for determination.
Meanwhile, friends and supporters are pressing ahead with mobilization efforts, determined to shield the Kololo home from auction and honor the memory of a man they describe as a friend to all—for the sake of his children and his enduring legacy.
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