Home Investigations Investigation: Pandora Papers Link Controversial Italian Business Woman “Enrica Pinett” to Offshore...

Investigation: Pandora Papers Link Controversial Italian Business Woman “Enrica Pinett” to Offshore Companies


By DaParrot Investigation Desk

As the country continues to dive into controversy over the coffee agreement that was signed between the government and Italian controversial businesswoman Enrica Pinett in February this week, our investigative desk has yet to discover shocking facts about the latter.

Since last week, the public has been up in arms with the finance ministry for signing yet a deal that will not only monopolize the coffee business to Pinett’s Uganda Vinci Company Limited (UVCC).

Businesswoman Enrica Pinetti, the owner of the said coffee company is famously the same person who took out a government-backed multi-million-dollar loan to construct the International Specialized Hospital in Lubowa.

In March 2019, parliament authorized the Ministry of Finance’s proposal to secure a loan to build a specialized hospital in Lubowa by signing a promissory note of USD379.71 million, or nearly USh1.4 trillion.

The government stated that the 264-bed facility, run as a world-class globally certified hospital, would be built on 32 hectares in Lubowa, Wakiso

latest Investigation
According to the documents retrieved from the International Consortium of Investigative Journalists (ICIJ), Pinett 2010 was linked to three offshore companies that were registered in the British Virgin Islands and United Arab Emirates (UAE).

One of these companies is Finmed Design Consultancy Ltd which is linked to the British Virgin Island and UAE with an Agent called Commonwealth Trust Fund Ltd.

She was a shareholder and a Director in this company between April 15, 2008, and April 15, 2009.
The jurisdiction of this company, which was incorporated on April 15, 2008, is not identified.

The second company linked to Pinnet is Finasset General Contractor Ltd which was incorporated on April 15, 2008. She had been the Director and Shareholder of this company since April 15, 2008. Its jurisdiction is not known.

The last company according to these Pandora Papers is MedFin Engineering Ltd, where she was the Director and Shareholder between April 15, 2008, and April 15, 2009.

All three companies had a link with Pinett’s Italian office via address D. Giardini, 3, 20121, Milano MI.
Offshore companies are popularly used for evading taxes and aiding illicit financial flows like; money laundering, trade misinvoicing, and corruption among others.

Part two of this investigation will be published tomorrow

Previous articleGlobal Coach Bus in Good Friday Accident
Next articleLegislators urge for effective funding of the EAC Ministry


Please enter your comment!
Please enter your name here