Mengi’s ARV firm placed under receivership

myamba said:

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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Kwa nini biashara ya Mengi iwe tofauti lakini biashara anayofanya Rosrtam au Manji isiwe tofauti? Mengi mwenyewe kapenda awe public figure, kajiweka katika vyombo vyake vya habari pursuing his interest, it is his right but he has to live with the consequences. Kama ambavyo Rostam na Manji waliamua kujiingiza katika siasa hivyo wameji-expose na lazima wawe tayari kuwa scrutinized. Everything is fair!

Invisible said:

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

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Wandugu; hii stori ilishawahi kutolewa na gazeti moja la Karamagi kama sikosei linaitwa taifa huru katikati ya mwezi wa 3(kopi ninayo kule visiwani kwa sasa sipo huko).

Muda si mrefu mojawapo ya magazeti ya IPP media yalikanusha kwa nguvu zote kuwa hiyo issue si ya kweli na kiwanda kina-operate vizuri tu wala hakidaiwi na bank yoyote. Ktk taarifa ya habari ya itv saa 2 usiku kuna msemaji wa barclays nae akakanusha juu ya issue hiyohiyo ya hiki kiwanda kutaka kufilisiwa. Lakini msemaji huyuhuyu alipohojiwa na gazeti hilo alisema kwa wkt huo hawezi kulizungumzia suala la kudaiwa au kutodaiwa.

Naona sasa ukweli unaelekea kujulikana; yetu macho 🙄

Mkuu Gembe niko pamoja na wewe

Gembe said:

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

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Wewe "HAMANI" wa kitanzania mchukia wachagga, naona umepata mahali pa kupeleka chuki zako.
siku moja yatakupata yaliyompata Hamani adui wa Wayahudi.

Is Benjamini Mengi=Elitira Mengi?...the owner of InterChem Pharma Ltd. Uchumi wa Moshi umezorota sana siku hizi. Sijui kuna kiwanda gani tena ambacho bado kinafanya kazi. Kilimanjaro Machine Tools? Kibo Match? KNCU? Kibo Breweries? It's very disappointing.