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MOGAS Uganda Limited (MUL) has appointed Mercy Nasejje, previously the company’s Safety and Standards Manager as its new Managing Director. The appointment, according to an internal notice, by the MOGAS Group HR And Admin Supervisor Ndagire Mariam Walie, is effective 8th August 2022. “Mercy is succeeding Ronald Rugadya, who has taken on other responsibilities within the Group. Mercy Nasejje will be reporting to the MOGAS Group CEO,” reads the internal memo. Ronald Rugadya was on 22nd July 2022 appointed the Managing Director of MOGAS Tanzania Limited, effective 22nd August 2022. He succeeds Michael Nduhuukire who is to take on other…
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The High Court in Kampala earlier this month extended further giving the final ruling of case in which Maestrol Oil and Gas Solutions – MOGAS Uganda Limited is battling receivership with Stanbic bank Uganda Limited under Kabiito Karamagi. In October 2021, Stanbic Bank Uganda sought control of petroleum products distributor after the latter reportedly failed to pay back a three-year loan of an unidentified amount. The bank had appointed Kabiito Karamagi as receiver of MOGAS. However, the petroleum company filled miscellaneous application in which court suspended Kabiito Karamagi as a receiver of MOGAS for a period of 6 months. The…
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Stanbic Bank Uganda has placed oil marketing company Mogas Group under receivership in order to recover outstanding loans. In a statement, the Bank says: “Stanbic Bank Uganda Limited has placed Mogas Group assets under receivership to recover outstanding loans, adding that Kabiito Karamagi with the Law Firm, Ligomarc Advocates, has been appointed Receiver in Uganda and is leading the takeover process of the borrower’s assets in the country. According to Stanbic, Mogas has been a client of Standard bank group and is multi-borrowed across several jurisdictions including Uganda and the asset takeover was being applied as a last resort. “The…
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