Uganda Clays Limited

Uganda Clays Limited
Public Company
USE:UCL
Industry Construction
Founded 1950
Headquarters Kajjansi, Uganda
Key people
 Martin Aliker
chairman
George Inholo
managing director and chief executive officer[1]
Services Building materials
Revenue Increase (Aftertax) US$666,000 (2016)[2]
Total assets UGX:60.6 billion (2016)[2]
Number of employees
 652 (2014)[3]
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.[4]

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.[5] 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.[6]

Overview

As of December 2016, the total assets of the company were UGX:60.6 billion.[2] During the financial year ending 31 December 2015, the company had an after-tax profit of US$2.3 million.[6]

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 government of Uganda. Shareholding in UCL has changed hands many times. Over the years, the following entities have held partial ownership in the company:[7]

Ownership

As of December 2015, the shareholding in the stock of the company, was as depicted in the table below:[3]

Uganda Clays Limited Stock Ownership
Rank Name of OwnerPercentage Ownership
1 National Social Security Fund (Uganda) 32.52
2 National Insurance Corporation 17.86
3 Central Bank of Kenya Employee Pension Fund 2.66
4 Kenya Power and Lighting Company 2.25
5 Uganda Communications Employees Contribution Plan 2.19
6 Bank of Uganda Staff Retirement Plan 2.09
7 Kenya Airways Staff Provident Fund 1.67
8 Joseph & Ketrah Tukuratiire 1.41
9 Uganda Development Bank 1.13
10 National Social Security Fund Staff Investment Plan 1.06
11 2,617 Other Shareholders 35.17
Total100.00

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]

Facilities

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

References

  1. ↑ Otage, Stephen (19 October 2014). "NSSF takes over Shs19b Uganda Clays debt". Daily Monitor. Kampala. Retrieved 19 October 2014.
  2. 1 2 3 UCL (27 April 2017). "Uganda Clays Limited: Audited Accounts for the Year Ending 31 December 2016" (PDF). Kampala: Uganda Clays Limited (UCL). Retrieved 10 July 2017.
  3. 1 2 3 4 Uganda Clays (24 April 2015). "Uganda Clays Limited: Annual Report for the Period Ending 31 December 2014" (PDF). Kajjansi: Uganda Clays Limited. Retrieved 22 August 2016.
  4. ↑ Businge, Julius (14 February 2014). "Uganda Clays Turnaround". The Independent (Uganda). Archived from the original on 10 March 2014. Retrieved 19 October 2014.
  5. ↑ "Uganda Securities Exchange: Company Details - Uganda Clays Limited". Uganda Securities Exchange (USE). Archived from the original on 1 April 2008. Retrieved 19 October 2014.
  6. 1 2 Kabona Esiara (20 August 2016). "Uganda Clays eyes regional markets: first stop in Rwanda". The EastAfrican. Nairobi. Retrieved 22 August 2016.
  7. ↑ Uganda Clays (22 August 2016). "About Uganda Clays Limited". Kajjansi: Uganda Clays Limited. Retrieved 22 August 2016.
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