Kampala . Sembule Group of Companies , one of Uganda's oldest manufacturing businesses, risks losing Shs27 billion in investment if the government does not bail it out. Mr Christopher Sembuya, the group chairman, said they need about Shs11b bailout from the government.Addressing the press at the factory premises in Nalukolongo yesterday, Mr Sembuya said court bailiffs evicted the management from their premises three months ago and have since denied them entry to the premises, demanding their money. "We met the Prime Minister on January 8 and he promised to come to our rescue," he said.The group chairman also said there are reports that some of the property could have been sold off by Sebalu Lule and Company Advocates to recover the Shs726m the company owes Euro Metal Services, one of the companies which used to supply them raw materials. Genesis of troubles"Our problems started in 1997 when we went to the PTA Bank to ask for money to expand. They thought they would run the business themselves without knowing what it involved and when we re-took over the management, we found the company had been put under receivership and we inherited the debts," he said.Mr Sembuya said the firm was President Museveni's 'darling' when he took over power in 1986. "Sembule industries shaped Uganda's economy when President Museveni came to power in 1986. He used to bring here every visiting president and this was Museveni's pride," he added. email@example.com
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