Despite a UGX578 bn recapitalisation from the gov’t, Matthias Magoola’s Dei BioPharma, yet to repay Equity Bank
Mr. Matthias Magoola, the Dei BioPharma Ltd, Chairman and Managing Director (left) and a partially completed pharma-plant in Matugga, Wakiso District on the outskirts of Kampala City.
Despite having received UGX578.4 billion (USD million) in capitalisation from the government of Uganda, part of which was to be used to settle his indebtedness with Equity Bank, controversial pharma-entrepreneur, Matthias Magoola is yet to repay Equity Bank.
CEO East Africa Magazine has learnt that the businessman instead asked the government to pay him through Citi, putting the money out of Eq
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