The Chairperson Simba Group of Companies, erectile http://chrisbevingtonorganisation.com/wp-content/plugins/jetpack/sync/class.jetpack-sync-wp-replicastore.php Patrick Bitature has dismissed as malicious, the reports which indicated that the group was running bankrupt and that the entrepreneur was heavily indebted.
Simba Group is a conglomerate cooperation that runs a number of businesses ranging from Travel, Tourism, Hospitality, and Telecommunications among others in the countries of Uganda, Kenya, Tanzania and Nigeria.
In 2016, the group was listed among the financially distressed companies in Uganda that were seeking a bailout from government.
Media reports further indicated that the Group had liabilities in excess of UShs200 billion owed to former Crane Bank and other unnamed banks.
The reports have since been used by political capitalists to say that Bitature and other Museveni main backers were being sidelined by the government which they supported.
In a statement to ChimpReports on Saturday, Bitature said that the state of business at Simba group is good and that the group has all it takes to move on despite the hurdles.
He underscored that Simba has grown from a company that employed only five people to the current state where it employs over 1000 people, and that their foot print continues to grow.
“We have transformed Simba Group of Companies from one small operation with 5 people to a conglomerate of successful businesses employing 1000 and 5 people,” he wrote in the statement.
“This has been achieved by being disciplined, being innovative and not being afraid to dare and above all, the tenacity to fly through any storm and belief to come out of that storm stronger,” he added.
Bitature said that the stories tell “a malevolent and unsubstantiated tale that seeks to hurt and malign my person and my businesses without due consideration of repercussions that the story would have on our business stability, partner confidence and employee sense of job security.”
He noted that the group has continued to diversify to different sectors, sighting among others the Eletromaxx thermal power plant which he says has contributed a lot in providing electricity.
“We have taken a leap of faith in the oil sector by investing in an environmental processing plant, which ensures that we as nationals play a central role in providing value add services to the sector.”
Bitature’s successful father was slain by Dictator Idi Amin’s henchmen.
The youthful Bitature would later struggle to rise and shine; dealing in cross border trade.
“Additionally, we have invested in modern agriculture, setting up a dairy farm in Ibanda that produces more than 200 litres of milk and we have began an extensive maize growing scheme that will actively engage 600 out growers in Northern Uganda,” he wrote.