10/15/2019 Uganda Clays Limited - Wikipedia

Uganda Clays Limited

Uganda Clays Limited (UCL), commonly referred to as Uganda Clays, is a
Uganda Clays Limited
building materials manufacturer in Uganda. The company manufactures baked
clay building products, using Italian-made heavy clay processing machinery. Type Public Company
The clay is excavated using surface mining techniques. The company is listed
USE:UCL
on the Uganda Securities Exchange (USE), being the first equity to list on the Industry Construction
exchange in 2000.[4] Founded July 10, 1950
Headquarters Kajjansi, Uganda
Key people Martin
Contents Kasekende[1]
Chairman
Products
George Inholo
Overview Kiconco Kennegb
History Managing Director
Ownership and CEO[2]
Governance and management Services Building materials
Facilities Revenue (Aftertax)
References UGX:1.27 billion
(US$334,874)
External links
(2018)[3]
Total assets UGX:18.06 billion
(US$4.76 million)
Products (2018)[3]
UCL's products include roofing tiles, bricks, interlocking and corner blocks, Number of 652 (2014)
partitioning blocks, decorative grilles, ventilators, floor tiles, pipes, and cable employees
covers. Of UCL's products, roofing tiles and bricks account for the largest Website Homepage (http://w
portion of revenues generated from sales contributing 53 percent and 11 ww.ugandaclays.c
percent, respectively.[5] The company sells its products within the East African o.ug)
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.[6]

Overview
As of June 2018, the total assets of the company were valued at UGX:18.06 billion (US$4.76 million). During the financial
year ending 30 June 2017, the company had an after-tax profit of USh2.17 billion (US$571,660).[3]

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.[7][8]

History

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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:[9]

Government of Uganda
White Tower Corporation
Kenya Clay Products Limited (KCPL)
Barclays Bank of Uganda
Uganda Communications Employees Pension Scheme
National Social Security Fund (Uganda)
National Insurance Corporation
Employees of Uganda Clays Limited
Individual Investors

Ownership
As of 31 March 2018, the shareholding in the stock of the company, was as depicted in the table below:[10]

Uganda Clays Limited Stock Ownership

Rank Name of Owner Percentage Ownership
1 National Social Security Fund (Uganda) 32.52
2 National Insurance Corporation 17.86
3 Kenya Power and Lighting Company 2.25
4 Bank of Uganda Staff Retirement Plan 2.09
5 Joseph Tukuratiire 1.76
6 Eliphaz Maari 1.38
7 Timothy Sabiiti Mutebile 1.38
8 Central Bank of Kenya Employee Pension Fund 1.36
9 Uganda Development Bank 1.13
10 National Social Security Fund Staff Investment Plan 1.06
11 2,672 Other Shareholders 37.22
Total 100.00

It is expected that in 2018, the debt amounting to USh23.2 billion[11] that is owed to NSSF will be converted to equity,
raising NSSF's shareholding from the current 33 percent to 66 percent.[12] 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.[13]

Governance and management

UCL is governed by a nine-person board of directors, chaired by Martin Aliker, an independent non-executive director.
The company is divided into five administrative departments under the overall supervision of the managing director,
George Inholo.[3]

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Facilities
As of 31 December 2014, UCL operated two factories:[3]

The main factory, located in Kajjansi, Wakiso District, near Entebbe - Employed 512 people.
The second factory, located in Kamonkoli, Budaka District, near Mbale - Employed 140 people.

References
1. Uganda Clays Limited (29 August 2018). "Extract of the Unaudited Financial Statements for the Six Months Ended 30
June 2018" (https://www.use.or.ug/sites/default/files/Extract%20of%20the%20Unaudited%20Financial%20Statement
s%20for%20the%206%20Months%20ended%2030th%20June%2C%202018.pdf) (PDF). Kampala: Uganda
Securities Exchange. Retrieved 29 August 2018.
2. Otage, Stephen (19 October 2014). "NSSF takes over Shs19 billion Uganda Clays debt" (http://www.monitor.co.ug/Ne
ws/National/NSSF-takes-over-Shs19b-Uganda-Clays-debt/-/688334/2490886/-/tn05rhz/-/index.html). Daily Monitor.
Kampala. Retrieved 19 October 2014.
3. Busuulwa, Bernard (10 September 2018). "NSSF Uganda struggling to find a buyer for UCL" (http://www.theeastafrica
n.co.ke/business/NSSF-Uganda-struggling-to-find-a-buyer-for-UCL/2560-4752406-tdcct7/index.html). The
EastAfrican. Nairobi. Retrieved 12 September 2018.
4. Businge, Julius (14 February 2014). "Uganda Clays Turnaround" (https://web.archive.org/web/20140310121021/htt
p://www.independent.co.ug/business/business-news/8711-uganda-clays-turnaround-). The Independent (Uganda).
Archived from the original (http://www.independent.co.ug/business/business-news/8711-uganda-clays-turnaround-)
on 10 March 2014. Retrieved 19 October 2014.
5. Uganda Securities Exchange (4 May 2018). "Uganda Securities Exchange: Uganda Clays Limited Company Details"
(https://www.use.or.ug/listed/ucl). Uganda Securities Exchange. Retrieved 4 May 2018.
6. Kabona Esiara (20 August 2016). "Uganda Clays eyes regional markets: first stop in Rwanda" (http://www.theeastafri
can.co.ke/business/Uganda-Clays-eyes-regional-markets-first-stop-in-Rwanda--/2560-3352052-d663t2z/index.html).
The EastAfrican. Nairobi. Retrieved 12 September 2018.
7. Biryabarema, Elias (18 November 2014). "Uganda Clays says biofuels will help cut costs by up to 40 pct in 2015" (htt
ps://af.reuters.com/article/energyOilNews/idAFL6N0T755F20141118). Reuters. Retrieved 4 May 2018.
8. Khisa, Isaac (11 September 2017). "Clays posts Shs2bn profit" (https://www.independent.co.ug/54871-2/). The
Independent (Uganda). Kampala. Retrieved 4 May 2018.
9. Uganda Clays (22 August 2016). "About Uganda Clays Limited" (http://www.ugandaclays.co.ug/about.html). Kajjansi:
Uganda Clays Limited. Retrieved 22 August 2016.
10. Uganda Clays (31 March 2018). "Uganda Clays Limited: Annual Report for the Period Ending 31 December 2017" (htt
p://ugandaclays.co.ug/download/ucl-annual-report-2017-2/?wpdmdl=535) (PDF). Kajjansi: Uganda Clays Limited.
Retrieved 4 July 2018.
11. Sanya, Samuel (12 July 2017). "NSSF abandons interest on Uganda Clays loan" (https://www.newvision.co.ug/new_v
ision/news/1457508/nssf-abandons-uganda-clays-loan). New Vision. Kampala. Retrieved 4 May 2018.
12. Kasemiire, Christine. "Uganda Clays continues to recover from years of loss making" (http://www.monitor.co.ug/Busin
ess/Uganda-Clays-continues-recover-years-loss-making-/688322-4541478-x1iaa6z/index.html). Daily Monitor.
Kampala. Retrieved 4 May 2018.
13. Martin Luther Oketch (4 July 2018). "Uganda Clays searching for investors" (http://www.monitor.co.ug/Business/Ugan
da-Clays-searching-investors/688322-4645072-104rippz/index.html). Daily Monitor. Kampala. Retrieved 4 July 2018.

External links
Uganda Clays Limited Homepage (http://www.ugandaclays.co.ug)
Uganda Clays recovers after years of losses (http://observer.ug/business/55889-uganda-clays-recovers-after-years-of
-losses.html) As of 10 November 2017.
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