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Mengi’s ARV firm placed under receivership

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by Invisible, Dec 29, 2008.

  1. Invisible

    Invisible Admin Staff Member

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    [​IMG]
    ARVs that the firm was set up to produce. Photo/FILE


    InterChem Pharma Ltd, the Moshi-based pharmaceutical firm owned by media mogul Reginald Mengi’s younger brother Benjamin, has been placed under receivership over a large debt accrued from Barclays Bank Tanzania Ltd.

    The firm, which three years ago acquired a $6 million loan for setting up an anti-retroviral (ARV) drug manufacturing plant in Tanzania, will go under the hammer next year.

    Bank sources told The EastAfrican in Dar es Salaam last week that the firm acquired additional investment from Barclays under a debenture agreement and mortgaged its plant in Moshi to the bank.

    Barclays Bank Tanzania has already appointed Charles Rwechungura and Dr Alex Nguluma to be receivers and managers of the firm, which faces a mountain of debt owed to various creditors.

    According to Mr Rwechungura and Dr Nguluma, the firm’s assets and business are being offered for sale by competitive tender to recover the loan.

    The two receiver managers were on December 27, 2008, expected to take possession of all properties owned by the firm under the bank’s instructions after the company failed to honour its debts.

    The bank source said that InterChem Pharma Ltd also borrowed some $10 million from the bank and other sources for setting up a penicillin-products manufacturing facility within a maximum period of two years.

    InterChem, which was founded in 1987, is a Tanzanian pharmaceutical manufacturing company and was owned jointly by Reginald Mengi and his brother Benjamin Mengi, who is the chairman of the firm.

    The project envisaged expansion of the existing tablets and capsule line, establishing a new penicillin plant (liquids, dry powder, tablets, and capsules) as well as establishing a new line for the production of tabs and capsules for HIV.

    Foreign collaboration was sought in the form of joint-venture partnership, buy-back arrangement and/or equipment purchase to facilitate implementation of the project.

    The company was incorporated in 1983. It manufactures liquids, tablets, capsules, creams, ointments, dry powders, external preparations and veterinary medicines.


    Source: The East Africn
     
  2. Kandambilimbili

    Kandambilimbili R I P

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    Kuna mkono wa mafisadi hapo, sio bure.
     
  3. C

    ChiefmTz JF-Expert Member

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    Maumivu ya kichwa huanza polepolee!!!!!!
     
  4. K

    KUNGUNI Member

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    Au ndiyo utekelezaji wa Mpango kabambe wa Waziri kijana ........
     
  5. Kandambilimbili

    Kandambilimbili R I P

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    hata mimi ndio wasi wasi wangu mkubwa huo, mafisadi kweli ni mafisadi.
     
  6. Maxence Melo

    Maxence Melo JF Founder Staff Member

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    Hawa jamaa wa East African si mwezi Machi mwaka huu waliandika hiki?
    British duo flee Moshi after death threats

    Posted Monday, March 3 2008
    Na hata mwaka jana tarehe 10 Disemba waliandika hiki:

    MP wants UK to withhold Tanzania budget support

    Posted Monday, December 10 2007
    Hebu zipitie habari zote mbili
     
  7. Gembe

    Gembe JF-Expert Member

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    Kunguni,

    Mbona tunakuwa wavivu wa kufikiri?kwa suala dogo kama hili tunaingiza siasa ili iweje?kwa mtu aliyekopa benki kama Baclays ambayo siyo mali ya serikali.Je unahisi ni vyema kuhusisha suala hili na suala la kufilisiwa kwa mengi(Unavyohisi?)

    Hata kama tuna mapenzi ya kweli kwa Mfanyabiashara Mzawa kama Mengi ,tusiwe wajinga kiasi cha kuona hata kama kakosa basi iwe sawa.Hapa naona tunapoelekea ni kupotea na kumezwa kwa mawazo ya mtu mmoja!

    Tulishalizungumza hili muda Mrefu,Huyu Mzee wa kichaga mambo yake si shwari hivyo sasa anatafuta sympath kwa watanzania ili apewe ridhaa flani kwa malengo flani.

    Time will tell
     
  8. C

    Chuma JF-Expert Member

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    kunapotokea na disputes....Mahakama zipo!!! tuzianze mambo mambo...? ktk Hali ya sasa Bank kufilisika kila bank sasa inafuatilia wadaiwa wake...so tusishangae wala kutupia mpira kwa wasio husika...!!! Watu wanaofilisi Mabenk kazi yao kufilisiwa...Wanachukua pesa for project ABC, then wanakwenda zihamisha kwa matumizi yao binafsi!!!! au Kampuni ingine...
     
  9. Gembe

    Gembe JF-Expert Member

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    After all,Mengi alichangia sana kufilisika kwa Benki yetu iliyokuwa ya biashara NBC ambapo mpaka leo wanamdai...
     
  10. Kandambilimbili

    Kandambilimbili R I P

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    teheee niliichokoza makusudi, huyu mangi anaonekana Mungu mtu humu ndani.

    __________________
     
  11. M

    Mbangaizaji Senior Member

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    Du Wakuu haka ka kiwanda kina Mengi walishakauza zamani sana kwa wahindi wa Mac Group ambao nao waliwauzia Niko, ngoma imekula kwa wamiliki wa sasa.
     
  12. MwalimuZawadi

    MwalimuZawadi JF-Expert Member

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    What?????????
     
  13. Mpita Njia

    Mpita Njia JF-Expert Member

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    Upo uwezekano mkubwa wa masuala haya yanayoonekana kuwa ni ya kibiashara, yakawa yameshughulikiwa pia kisiasa. Kama ndivyo, ingekuwa vema wale wanaoyahusisha na siasa, wakaonyesha kiungo chake wazi wazi ili wasituache sisi wengine ambao pamoja na kusoma katikati ya mistari, hatujabaini muunganiko huo.
     
  14. Kang

    Kang JF-Expert Member

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    Business failure sio kitu cha ajabu ukiwa entrepreneur.
     
  15. TIMING

    TIMING JF-Expert Member

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    Wajameni;
    Tuache kukurupuka... Ya intechem Ni zaidi ya ujuavyo. Hivi lini tutaacha ujinga wa kuunganisha tenzi zisizoendana??????????????????????????

    Intecherm ni kampuni iliyoanzishwa na hawa jamaa, na baadae ikapata partners (from India) na kuna hata wahadhiri wa chuo kikuu MUCHS waliipigia debe sana, ambao waliweka chao kidogo (machines). Baada ya hapo kuna mengi yanayohusu production, inestiment na output ambayo wote hapa hamna taarifa kamili.

    Yaliyotekea ni pure business challenges na myaache hivyo kama ni wavivu wa kufikiri SIO SIASA WALA UADUI WA MTU FULANI, BIASHARA IMEWAHINDA HAWAAA

    IJUMAA NTAWAPA ZAIDI
     
  16. L

    Limbukeni Senior Member

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    Mengi’s ARV firm placed under receivership


    Posted Saturday, December 27 2008 at 09:14

    InterChem Pharma Ltd, the Moshi-based pharmaceutical firm owned by media mogul Reginald Mengi’s younger brother Benjamin, has been placed under receivership over a large debt accrued from Barclays Bank Tanzania Ltd.

    The firm, which three years ago acquired a $6 million loan for setting up an anti-retroviral (ARV) drug manufacturing plant in Tanzania, will go under the hammer next year.

    Bank sources told The EastAfrican in Dar es Salaam last week that the firm acquired additional investment from Barclays under a debenture agreement and mortgaged its plant in Moshi to the bank.

    Barclays Bank Tanzania has already appointed Charles Rwechungura and Dr Alex Nguluma to be receivers and managers of the firm, which faces a mountain of debt owed to various creditors.

    According to Mr Rwechungura and Dr Nguluma, the firm’s assets and business are being offered for sale by competitive tender to recover the loan.

    The two receiver managers were on December 27, 2008, expected to take possession of all properties owned by the firm under the bank’s instructions after the company failed to honour its debts.

    The bank source said that InterChem Pharma Ltd also borrowed some $10 million from the bank and other sources for setting up a penicillin-products manufacturing facility within a maximum period of two years.

    InterChem, which was founded in 1987, is a Tanzanian pharmaceutical manufacturing company and was owned jointly by Reginald Mengi and his brother Benjamin Mengi, who is the chairman of the firm.

    The project envisaged expansion of the existing tablets and capsule line, establishing a new penicillin plant (liquids, dry powder, tablets, and capsules) as well as establishing a new line for the production of tabs and capsules for HIV.

    Foreign collaboration was sought in the form of joint-venture partnership, buy-back arrangement and/or equipment purchase to facilitate implementation of the project.

    The company was incorporated in 1983. It manufactures liquids, tablets, capsules, creams, ointments, dry powders, external preparations and veterinary medicines.
    InterChem Pharma Placed Under Receivership
    Submitted by editor on Mon, 12/29/2008 - 10:34
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    InterChem Pharma Ltd, the Moshi-based pharmaceutical firm owned by media mogul Benjamin Mengi, has been placed under receivership over a large debt accrued from Barclays Bank Tanzania Ltd., The East African reported. The firm, which three years ago acquired a $6 million loan for setting up an anti-retroviral (ARV) drug manufacturing plant in Tanzania, will go under the hammer next year. Bank sources told The East African in Dar es Salaam last week that the firm acquired additional investment from Barclays under a debenture agreement and mortgaged its plant in Moshi to the bank. According to receivers appointed by Barclays Bank Tanzania, the firm’s assets and business are being offered for sale by competitive tender to recover the loan. The company was incorporated in 1983. It manufactures liquids, tablets, capsules, creams, ointments, dry powders, external preparations and veterinary medicines
     
  17. Shapu

    Shapu JF-Expert Member

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    Mkuu,
    Tunaomba source ya hii habari pse pse.
    Kwa sasa source za habari ni muhimu sana.
     
  18. Kang

    Kang JF-Expert Member

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    :confused:
     
  19. k

    kanda2 JF-Expert Member

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    Kama ulikuwepo. tuendelee kusubiri.
     
  20. M

    Myamba Senior Member

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    Jamani, mambo ya biashara tuyaache kwenye biashara na ya siasa tuyaachie huko. Sidhani kama ni vizuri kuchanganya mambo haya mawili.

    Tatizo hapa ni kuingiza ya siasa kwenye biashara and vice versa.
     
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