Connect with us

News

Cipla Quality Chemicals Hopes to Recover as Debt Collection From Zambia Commences 

Published

on


Cipla Quality Chemical Industries Limited’s (CiplaQCIL) has said it is optimistic about the future following a promising debt recovery plan with the government of Zambia.

The company recently announced to its shareholders that it had made losses in the first quarter of 2020. The Drug manufacturer also announced a loss of 14.5 billion Shillings for the period from April to September 2019.  The losses were mainly attributed to failure by the company to collect debts from the Government of Zambia and the stiff competition in the sector.

However according to Executive Chairman of CiplaQCIL, Emmanuel Katongole, the Company is intent on returning to significant revenue growth in 2020/2021 as well as a return to profitability.

“The 2019/2020 financial year was a challenging year especially given the Zambia issues and most recently the COVID-19 pandemic. We can be proud though despite numerous challenges, CiplaQCIL continues to deliver on its ethos of “Caring for Life” by producing quality, affordable medicines to ensure that people have access to life-saving medication,” he said.

This was at the at second annual general meeting (AGM) held Thursday 20 August 2020

According to officials, CiplaQCIL continues to engage extensively and constructively with the Government of Zambia regarding payment of the over dues this financial year and has already received $1.2 million in the first quarter.  This engagement involves forfeiting the over dues through an international bank to secure guaranteed payment.

“The company is relentlessly focussed on driving shareholder value through increased revenues and profitability. Even though it was business unusual during the COVID-19 pandemic, CiplaQCIL was fortunate to operate without interruption and even managed to improve attendance and productivity levels during this period. The new financial year 2020/2021 has presented opportunities in increasing the customer base with orders from Botswana for 2.3 million doses of ARVs for adults living with HIV,” CEO of CiplaQCIL, Nevin Bradford, said



Source – chimpreports.com

News

Muntu Blocked in Kamwenge

Published

on

Alliance for National Transformation presidential candidate Gen. Mugisha Muntu has been blocked from campaigning in Kamwenge according to a statement he released earlier today.Below is the full statement:

STATEMENT
Today in Kamwenge, as we have done since the start of the campaign season, we headed out to speak with the people. We had earlier in the week agreed on the venue with security agencies. No one had anticipated that it would rain as much as it did, making it impossible for us or the people to access.

After identifying an alternative place only 100m away from the original venue, negotiating with the owner and communicating the same to the public, we headed to the second venue only to be stopped by police.

Our policy has always been to do all we can to be reasonable, even in the face of unreasonable action on the part of the state. We engaged the police leadership in a civilized, respectable manner well knowing that they intended to not only frustrate us, but cause us to act in ways that would give them an excuse to cause chaos. This was on top of their intimidating the radio we had booked and duly paid to appear on.

While we are confident that we are on the right side of both the law and reason, we have chosen not to endanger the lives of our supporters or the general public by escalating the situation. We will do everything humanly possible to avoid a single life being lost or blood being shed on account of our campaign.

And yet this truth remains: the regime’s days are numbered.

ChangeYouCanTrust

CountryBeforeSelf

Continue Reading

News

Is Johnson Byabashaija courting Enid Kukunda for protection?

Published

on

The very amiable Commissioner General of Prisons Canon Johnson Byabashaija was recently sighted with President Y K Tibuhaburwa Museveni’s second wife Enid Kukunda as the two had a very secretive meeting in one of the city hangouts.

According to our informers, the two seem to be in a deep conversation that they wouldn’t allow a housefly pass around. However, sources further reveal that Byabashaija could have courted the second lady for protection given that he has amassed a lot of wealth and could be a subject of investigations.

Our sources reveal that Byabashaija who carries himself as Mr.I know it all hasn’t met Madam Enid alone but a host of others with connections to the centre of power in the country.

We will bring you more detail

Continue Reading

News

Bobi Wine released on Bail

Published

on

Presidential candidate and kyadondo East legislator Hon. Robert Kyagulanyi Sentamu has been realeased on bail by the Iganga magistrates court where he appeared to defend himself against accusations of flouting COVID-19 campaign SOPs. A defiant Kyagulanyi took the opportunity to blast the incumbent Yoweri Museveni, whom he accuses of using state power to quell dissident.

This follows a tense week that has seen thousands injured and several dead following Hon. Kyagulanyi’s arrest earlier this week. Demonstrations and riots erupted in many parts of the country and heavy police and army deployment was seen all over the country.

Continue Reading

Trending