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Sembule Industries grabbed and sold to foreigners

 

 

The government of president Museveni (Uganda) is willing to offer natural forests to foreigners, give away lakes for reclamation, invest in foreign wars in Rwanda, South Sudan, Democratic Republic of Congo, Central African Republic …but can not rescue a single national whose profit won’t get repatriated and whose company creates jobs for Ugandans. This is equivalent to uprooting the last pumpkin from Uganda’s business land.

Many things are happening in Uganda and continue to shock Ugandans. Ugandans have learnt that SEMBULE industries has been grabbed and sold for $3M to foreigners because of debts.

Some time last year the government of Uganda was put to task by Members of Uganda Parliament who were demanding to know why the government can’t rescue a Ugandan Investor. The prime minister of Uganda Amama Mbabazi said they were weighing ways of helping Sembule Industries. But now the help the government has given him was to grab his business and sell it to foreigners.

Sembule Industries had reached an extent of assembling TVs, Radio, Iron sheets. We have been told that BIDCO was given a 20 years tax holiday to operate Sembule Industries. President Museveni and his family according to sources in government own some shares in BIDCO. Uganda is the only country in the world that increases taxes and reduces employment.

Ends

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