Court orders audit of Incafex Ltd amid Matthew Rukikaire feud

A dragged-out corporate feud finally got shoved back on track, locking massive ranch land while judges force an audit nobody wanted finished.

High Court forces audit restart

• Dr. Ginamia Melody Ngwatu pushed the Incafex Ltd audit forward.
• Killed objections framed as stalling noise.
• Set a 60-day deadline for a final report.
• Left the cost bills with each side.

How the shareholder fight began

• Matthew Rukikaire dragged Incafex Ltd into court over exclusion claims.
• Alleged sidelining from meetings and money mismanagement.
• Disputed whether foreign investors ever got paid.
• Pushed for an audit to untangle share ownership.

Appeals history and Supreme Court stance

• The Supreme Court revived earlier audit orders.
• Overruled a Court of Appeal win.
• Affirmed oppression through exclusion from decisions.
• Sent the case back for auditor-led resolution.

Land assets locked down by courts

• Incafex Ltd faced restrictions over sprawling ranch properties.
• Blocked sales, mortgages, or asset shuffling.
• Covered estates across Bulemezi, Buruli, and Bunyoro.
• Some parcels are valued at past a trillion shillings.

Why the audit froze for years

• PricewaterhouseCoopers had been picked as the auditor.
• Process stalled after authority objections surfaced.
• The judge ruled that administrators can authenticate records.
• Appeals did not pause enforcement orders.