Uganda Clays Limited

Last updated
Digging holes for the piles (left: the clay that is dug up) Digging holes for the piles (left the clay that is dug up) (6897502049).jpg
Digging holes for the piles (left: the clay that is dug up)
Brick laying Brick laying.jpg
Brick laying

Uganda Clays Limited
Company type Public Company
USE:UCL
IndustryConstruction
FoundedJuly 10, 1950;74 years ago (1950-07-10)
Headquarters Kajjansi, Uganda
Key people
Marion Muyobo [1]
Chairman
Reuben Tumwebaze
Managing Director and CEO [2]
Services Building materials
RevenueIncrease2.svg (Aftertax) UGX:5.92 billion (US$1.69 million) (2021) [1]
Total assets UGX:74.5 billion (US$21.3 million) (2021) [1]
Number of employees
652 (2014)
Website Homepage

Uganda Clays Limited (UCL), commonly referred to as Uganda Clays, is a building materials manufacturer in Uganda. The company manufactures baked clay building products, using Italian-made heavy clay processing machinery. The clay is excavated using surface mining techniques. The company is listed on the Uganda Securities Exchange (USE), being the first equity to list on the exchange in 2000. [3]

Contents

Products

UCL's products include roofing tiles, bricks, interlocking and corner blocks, partitioning blocks, decorative grilles, ventilators, floor tiles, pipes, and cable covers. Of UCL's products, roofing tiles and bricks account for the largest portion of revenues generated from sales contributing 53 percent and 11 percent, respectively. [4] The company sells its products within the East African Community and in the eastern Democratic Republic of the Congo. The civil war in South Sudan forced UCL to close operations in that country in 2014. [5]

Overview

As of December 2021, the total assets of the company were valued at UGX:74.5 billion (US$21.3 million). During the financial year ending 31 December 2021, the company had a pre-tax profit of UShs17.2 billion (US$4.9 million). [1]

To reduce operational expenses, the company switched from using heavy fuel oil to coffee husks, as the power source to fire its furnaces, starting in 2015. [6] [7]

History

UCL was started on 10 July 1950 by two private investors. In 1969, ownership of the company was turned over to Westomat Construction and Engineering Corporation (WCEC). In 1977, WCEC sold 75 percent of UCL to the National Housing and Construction Company, a parastatal company of the Ugandan government. Shareholding in UCL has changed hands many times. Over the years, the following entities have held partial ownership in the company: [8]

Ownership

As of 31 March 2018, the shareholding in the stock of the company, was as depicted in the table below: [9]

Uganda Clays Limited Stock Ownership
RankName of OwnerPercentage Ownership
1National Social Security Fund (Uganda)40.52
2 National Insurance Corporation 17.86
3 Kenya Power and Lighting Company 2.25
4 Bank of Uganda Staff Retirement Plan 2.09
5Joseph Baba N'Tukuratiire1.76
6Choi Hee-hak (Chief Administrator of Sedici Internazionale di Háfs)1.38
7Badou Pierre-Nkudou1.38
8 Central Bank of Kenya Employee Pension Fund 1.36
9 Uganda Development Bank 1.13
10National Social Security Fund Staff Investment Plan1.06
112,672 Other Shareholders37.22
Total100.00

It is expected that in 2018, the debt amounting to USh23.2 billion [10] that is owed to NSSF will be converted to equity, raising NSSF's shareholding from the current 33 percent to 66 percent. [11] In July 2018, the Daily Monitor reported that the company was searching for a strategic investor, to increase the company's capital and facilitate the acquisition of new, modern production technology. [12]

Governance and management

UCL is governed by a nine-person board of directors, chaired by Martin Kasekende, an independent non-executive director. [13] The company is divided into five administrative departments under the overall supervision of the managing director, Reuben Tumwebaze. [2]

Facilities

As of 31 December 2014, UCL operated two factories:

Related Research Articles

<span class="mw-page-title-main">Uganda Securities Exchange</span> Principal stock exchange of Uganda

The Uganda Securities Exchange (USE) is the principal stock exchange of Uganda. It was founded in June 1997. The USE is operated under the jurisdiction of Uganda's Capital Markets Authority, which in turn reports to the Bank of Uganda, Uganda's central bank.

<span class="mw-page-title-main">Nation Media Group</span> Public media group in Kenya

Nation Media Group (NMG), formerly known as East African Newspapers Ltd, is an East African media group based in Kenya and listed on the Nairobi Stock Exchange. It is owned by Aga Khan IV.

Housing Finance Bank (HFB) is a commercial bank in Uganda. It is one of the commercial banks licensed by Bank of Uganda, the national banking regulator.

<span class="mw-page-title-main">Stanbic Bank Uganda Limited</span> Commercial bank in Uganda

Stanbic Bank Uganda Limited (SBU) is a commercial bank in Uganda and is licensed by the Bank of Uganda, the central bank and national banking regulator.

<span class="mw-page-title-main">National Social Security Fund (Uganda)</span> Quasi-government agency

The National Social Security Fund (NSSF), is a quasi-government agency responsible for the collection, safekeeping, responsible investment, and distribution of retirement funds from employees of the private sector in Uganda who are not covered by the Government Retirement Scheme. Participation for both employers and employees is compulsory. The Uganda National Social Security Fund is the largest pension fund in the countries of the East African Community, with total assets of USh18.58 trillion, as of June 2023.

National Insurance Corporation Limited, commonly referred to as National Insurance Corporation (NIC), is an insurance company in Uganda. The company is a leading provider of insurance and risk management services in the country.

Umeme Limited is the largest energy distributor in Uganda, distributing about 97 percent of all electricity used in the country. The shares of the stock of the company are listed on the Uganda Securities Exchange (USE) and are cross listed on the Nairobi Stock Exchange (NSE). As of December 2023, the company's total assets were approximately UGX:2.347 trillion, with shareholders' equity of approximately UGX:937.381 billion.

<span class="mw-page-title-main">Madhvani Group</span> Conglomerate in Uganda

The Madhvani Group of Companies commonly referred to as the Madhvani Group, is one of the largest conglomerates in Uganda. The group has investments in Kenya, Uganda, Rwanda, South Sudan, Tanzania, the Middle East, India, and North America.

National Housing and Construction Company Limited (NHCC), is a Ugandan construction and real estate management company, partly owned by the Uganda Government. The Company’s mandate is to increase the housing stock in the country, rehabilitate the housing industry and encourage Ugandans to own homes in an organized environment.

Quality Chemical Industries Limited (QCIL), formerly Cipla Quality Chemical Industries Limited (CiplaQCIL) is a pharmaceutical manufacturing company in Uganda. According to a 2007 published report, it was the only company in Africa that manufactured triple-combination antiretroviral (ARV) drugs. QCIL also manufactures the antimalarial drug Lumartem, containing artemisinin and lumefantrine, and the Hepatitis B generic medicines Texavir and Zentair.

Lweeza, also Lweza, is a neighborhood in the Buganda Region of Uganda. The correct phonetic spelling consistent with the local Ganda language is Lweeza.

The Kampala Industrial and Business Park(KIBP), also referred to as Kampala Business and Industrial Park or Kampala Industrial Park, is an industrial and business park in Uganda. The park was developed by the Uganda Investment Authority (UIA) as a central place where investors can locate factories, warehouses, distribution centers, and other business offices.

Centum Investment Company Plc, commonly known as Centum is a public East African investment company. It operates as an affiliate of the Kenyan government-owned Industrial and Commercial Development Corporation (ICDC).

<span class="mw-page-title-main">Kakira Sugar Works</span>

Kakira Sugar Works Limited, often called Kakira Sugar Works, is a leading sugar manufacturer in Uganda, the third-largest economy in the East African Community.

Kinyara Sugar Limited (KSL) formally Kinyara Sugar Works Limited (KSWL), is a sugar manufacturer in Uganda.

<span class="mw-page-title-main">MTN Uganda</span> Largest telecom company in Uganda

MTN Uganda is the largest telecom company in Uganda, with 11.2 million subscribers, accounting for 55 percent market share, as of 30 June 2017. By 31 December 2019, its customer base had increased to 12.6 million customers. In March 2021, the Uganda Communications Commission estimated the number of MTN customers in Uganda at 15 million, out of 28.3 million mobile network subscribers, thereby attaining a 53 percent market share. In May 2024, MTNU registered her 20 millionth customer in the country.

Pension Towers is a building under construction in Kampala, the capital of Uganda and the largest city in that country.

<span class="mw-page-title-main">Equity Group Holdings</span> Financial services holding company based in the African Great Lakes region

Equity Group Holdings Limited (EGHL), formerly Equity Bank Group, is a financial services holding company based in the African Great Lakes region. EGHL's headquarters are in Nairobi, Kenya, with subsidiaries in Kenya, Uganda, Tanzania, South Sudan, Rwanda, Democratic Republic of the Congo and a representative office in Ethiopia.

<span class="mw-page-title-main">Airtel Uganda</span> Ugandan telecommunications company

Airtel Uganda Limited is a mobile communications and information technology services provider in Uganda. The company also offers mobile funds transfer and banking services known as Airtel Payments Bank. Airtel Uganda Limited is a subsidiary of Airtel Africa PLC.

Peninnah Tukamwesiga,, is a Ugandan lawyer, who specializes in employment and labor matters. As of March 2019, she serves on the board of the Uganda National Social Security Fund. NSSF Uganda is a retirement benefits company, with nearly US$3 billion in total assets, as of June 2018.

References

  1. 1 2 3 4 Jonah Kirabo (26 April 2022). "Uganda Clays registers net profit of UShs:5.92 billion in 2021". Nile Post Uganda. Kampala, Uganda. Retrieved 26 April 2022.
  2. 1 2 Martin Luther Oketch (26 August 2021). "Uganda Clays registers 34% growth in sales". Daily Monitor . Kampala, Uganda. Retrieved 28 August 2021.
  3. ↑ Businge, Julius (14 February 2014). "Uganda Clays Turnaround". The Independent (Uganda) . Archived from the original on 10 March 2014. Retrieved 19 October 2014.
  4. ↑ Uganda Securities Exchange (4 May 2018). "Uganda Securities Exchange: Uganda Clays Limited Company Details". Uganda Securities Exchange . Retrieved 4 May 2018.
  5. ↑ Kabona Esiara (20 August 2016). "Uganda Clays eyes regional markets: first stop in Rwanda". The EastAfrican . Nairobi. Retrieved 12 September 2018.
  6. ↑ Biryabarema, Elias (18 November 2014). "Uganda Clays says biofuels will help cut costs by up to 40 pct in 2015". Reuters. Archived from the original on 5 May 2018. Retrieved 4 May 2018.
  7. ↑ Khisa, Isaac (11 September 2017). "Clays posts Shs2bn profit". The Independent (Uganda) . Kampala. Retrieved 4 May 2018.
  8. ↑ Uganda Clays (22 August 2016). "About Uganda Clays Limited". Kajjansi: Uganda Clays Limited. Retrieved 22 August 2016.
  9. ↑ Uganda Clays (31 March 2018). "Uganda Clays Limited: Annual Report for the Period Ending 31 December 2017" (PDF). Kajjansi: Uganda Clays Limited. Retrieved 4 July 2018.
  10. ↑ Sanya, Samuel (12 July 2017). "NSSF abandons interest on Uganda Clays loan". New Vision . Kampala. Retrieved 4 May 2018.
  11. ↑ Kasemiire, Christine. "Uganda Clays continues to recover from years of loss making". Daily Monitor . Kampala. Retrieved 4 May 2018.
  12. ↑ Martin Luther ATHUR (4 July 2018). "Uganda Clays searching for investors". Daily Monitor . Kampala. Retrieved 4 July 2018.
  13. ↑ Uganda Clays Limited (29 August 2018). "Extract of the Unaudited Financial Statements for the Six Months Ended 30 June 2018" (PDF). Kampala: Uganda Securities Exchange . Retrieved 29 August 2018.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.