By David Himbara
Kagame recklessly took US$16 million from Rwandan pension money and dumped it into an American start company, Merrimack. Now Merrimack is collapsing. The company’s shares lost 57.6% in value in June 2017. As reported in May 2017,
“the company kept on losing money every quarter. There was a restructuring, the CEO was fired, but nothing could stop the terrible losses. So this commercial oncology company sold its oncology business to Ipsen…turning it back into an early stage R&D company. The stock slumped, and today it trades at a meager $3. Long term, long suffering retail shareholders were left to hold the bag.” https://www.google.ca/amp/s/seekingalpha.com/amp/article/4057165-merrimack-decent-drug-bad-money-poor-management-terrible-deal
Guess what General Kagame? Please check where the Rwandan pension money is now invested. Is it still in the USA ?? or France ??? Ipsen that bought Merrimack’s only marketed product Onivyde is a French multinational company. That might be your worst nightmare.
We also notice that Clet Niyikiza who represented Kagame in Merrimack is long gone. Niyikiza started his own L.E.A.F. Pharmaceuticals.
What does all this mean regarding Rwandan pension money, General Kagame?
