Parliament Orders Probe Into Dei Biopharma Following Asset Auction Reports

Parliament has intervened in the financial controversy surrounding Dei Biopharma Limited, directing a House committee to launch a comprehensive investigation. Speaker Jacob Oboth instructed the Committee on Science, Technology and Innovation to probe the circumstances of the company and report back within two weeks.

The directive follows concerns raised by Leader of the Opposition Joel Ssenyonyi during a plenary sitting. Ssenyonyi questioned the fate of the estimated Shs724 billion of taxpayers’ money invested by the government into the Matugga-based pharmaceutical facility, noting that recent media reports indicate the company has put its property up for auction.

Lawmakers voiced deep concerns over the safety of the public funds. Hon. Hassan Kirumira pointed out that buildings funded by the government appear to be among the assets being sold off, while Hon. Julius Nakiyi demanded clarification regarding the relationship between Dei Biopharma Limited and Dei Industries International Limited, questioning what safeguards were put in place before the state acquired shares.

Committee Chairperson Samuel Opio confirmed that the inquiry has already begun, with plans to engage key stakeholders, including the Ministry of Finance, Planning and Economic Development.

Meanwhile, Minister of State for Trade, Industry and Cooperatives David Bahati defended the government’s initial involvement. He assured the House that proper due diligence was conducted prior to the investment and that the advertising of assets does not automatically mean a total loss for the country.

Founded in 2014 by Dr. Matthias Magoola, Dei Biopharma was envisioned to manufacture affordable vaccines and medicines tailored for African markets. Parliament now awaits the committee’s findings to determine the next course of action.

For more details, read the original report on the Parliament of Uganda.