Uganda’s Red Pepper property attached over debts
News from Namanve indicate that The Red Pepper Head Office property has been attached over debts. Sources have told The Drone Media that the management of the defunct Red Pepper has even dropped the business name Red Pepper.
It is now known as The Daily Pepper. The former Red Pepper needs prayers if it’s to save it’s skin in it’s new tactical name The Daily Pepper.
The mighty Red Pepper as they used to portray it during it’s hey days is almost no more having gotten entangled in multiple debts after multiple lawsuits accruing from fake stories coupled with the unfavourable market situations .
Such situations are largely a result of the harsh opening conditions which the company directors signed with government to obtain their freedom and running permission after their arrest and closure following the Rwanda_ Uganda predictive story which angered President Museveni.
Now, with the new arrangement instructing the paper to dwell on sex stories and unselling traditional news typical of The New vision and The Daily monitor, the paper which largely depended on political intelligence news, deep security beats and State House news, seems to stagger.
Reports say the company is debt ladden; it has both internal and external debts and it experienced migration of all its famous editors and writers to other companies and private businesses.
Sources say the former self made giants of news is nothing other than a new tactical newspaper dubbed The Daily Pepper that runs Monday to Friday, but occasionally disappearing for days due to printing issues.
This site has gathered that all other company properties from printing house to head offices in Namanve plus the property they had swapped with the defunct Jomayi to run his adverts have all been attached. As you read this you can openly bid for the former newshouse which is being advertised for sale for obvious reasons, avoiding debtors.
According to inside information, the debtors list include a judicial official, an Army General who sued for defamation as well as city banks which loaned the five constants as the directors used to refer to themselves when the company was still shining.
Lately one constant/director almost fell off preferring to work closely with his friend, a very powerful army General, who is his friend.
Today the new name is tactical off capping the debtors and etc because alot is still needed especially to give the Daily Pepper its actual daily appearance.
Sources have intimated this site that many may put the blame on the unfavorable state of business running terms, but underneath mismanagement could be another strong cause of the curse.
The Daily Pepper has its offices at Butto, Bweyogerere, but the Directors must be in regret that they made a decision to use a billion loan offered to refurbish the company and it went for personal use! They all bought themselves brand new Toyota Landcruiser Mpenkoni angering the lending institution and went mad on them.
But this is not to mean that the directors are all that poor. No! They are damn rich. Richard Tusiime has a huge school in Seeta, two huge hostels around Kyambogo universitu and other businesses. James Mujuni has two flats near Jokas Hotel on the way to Kirinya and two flats with a hotel in Seeta. Patrick has two arcades in Mukono one housing partly a bank.
Another one Johnie Musinguzi has a commercial building, too, and some rentals. At a local level the
story of Red pepper is more less that of UTODA,where directors shared millions weekly against a poor payed workers keeping the company broke at all times with stinking rich directors.