Sembule industries to close over debts

It is sad but true. Many people who have been working at Sembule industries may soon become jobless as the company faces closure over huge debts.

Its proprietor, Mr. Sembuya says that Sembule industries located in Nalukolongo Industrial area in Kampala is currently incapable of servicing huge debts in banks within Uganda and abroad.

The sources told us that the company has failed to clear all the debts it got from African Development Bank, Stanbic Bank and Centenary Bank amounting to over 1.5 billion Uganda shillings.

But God should save Uganda! Just debts are about to ruin Sembule industries, an investment that Sembuya  has established for many years…but seriously some people ask whether the government is incapable of rescuing such a business yet it protects businesses of the foreigners. However, as usual the critics of president Museveni’s government claim that the government cannot rescue Sembuya’s business because he comes from Buganda and sometime back one of his family members authored a book that discredited Museveni and praised President Iddi Amin.

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