HOW ASAN KASINGYE LOST HUNDREDS OF MILLIONS IN A FAILED LORRY BUSINESS

Editor's Pick

 

Retired Assistant Inspector General of Police (AIGP) Asan Kasingye lost his entire 20-truck transport business by 2022 after 17 years of operation. The business collapsed due to a combination of employee dishonesty, theft, high operational costs, and pandemic-related challenges.

 

Drivers secretly hired out his trucks to factories while claiming they were parked, or used them for unsanctioned, heavy-duty long-distance transport that severely damaged the vehicles.

 

Good tyres were routinely swapped for worn-out ones. In other instances, expensive components, like a Shs 5 million starter system, vanished while trucks were allegedly broken down.

 

Drivers stole sand and construction materials during deliveries to sell for their own profit. Drivers also colluded with individuals posing as environmental enforcement officers to fabricate regulatory violations, demanding bribes and fake fines.

 

Lockdowns made it impossible for him to personally oversee the fleet, allowing the drivers' misconduct to spiral out of control but the business was squeezed by inflated mechanic repair bills, massive asset depreciation (with some trucks losing Shs 140 million in value due to mistreatment), and continuous taxation by the Uganda Revenue Authority even when trucks were undergoing repairs.

 

Kasingye shared this painful breakdown on social media not to deter others, but as a cautionary case study on risk mitigation for aspiring transport entrepreneurs in Uganda.