Firm invests sh6b
Jun 05, 2005
WISPRO Uganda Limited, a cosmetics-making firm, has invested sh6.1b during the last 10 years, a company official has said, writes <b>Vision Reporter. </b><br>
WISPRO Uganda Limited, a cosmetics-making firm, has invested sh6.1b during the last 10 years, a company official has said, writes Vision Reporter.
“We have spent sh4.1b on building and buying machinery and equipment. Sh2b has been spent on raw materials and packaging products. We are expanding with sh2.1b to start making cosmetics bottles,†Ashu Wissanji, the firm’s managing director, said recently.
This was during monitoring of the firm by Uganda Investment Authority officials led by the executive director, Dr. Maggie Kigozi.
Wissanji said they are targeting a new market in southern Sudan in addition to Burundi, Rwanda, DR Congo, Tanzania, Somalia and Kenya.
However, he criticised the Government for delaying to pay back Value Added Tax claims to the firm, making the company experience financial constraints.
Ends
“We have spent sh4.1b on building and buying machinery and equipment. Sh2b has been spent on raw materials and packaging products. We are expanding with sh2.1b to start making cosmetics bottles,†Ashu Wissanji, the firm’s managing director, said recently.
This was during monitoring of the firm by Uganda Investment Authority officials led by the executive director, Dr. Maggie Kigozi.
Wissanji said they are targeting a new market in southern Sudan in addition to Burundi, Rwanda, DR Congo, Tanzania, Somalia and Kenya.
However, he criticised the Government for delaying to pay back Value Added Tax claims to the firm, making the company experience financial constraints.
Ends