Uganda is the third-largest economy in the East African Community. The country has for long developed a great investment and business climate for companies to flourish. This has seen many companies grow day in day out with others emerging from scratch to reach the highest level. This companies contribute a great percentage to the country’s annual tax.
But have you ever wondered what company is biggest and richest in Uganda? With some thorough research, here ay guide2uganda we bring you the biggest companies operating in the land. And obviously, biggest comes with richness. Check them out below:
- MTN Uganda Limited.
MTN Uganda is the largest telecom company operating in Uganda. Having reached a new milestone hitting 15 million subscribers in July 2021, the company continues to demonstrate market share leadership with over 50% of total subscriber base in Uganda. MTN Uganda is a subsidiary of MTN Group, a South African multinational telecommunications company, connecting approximately 279.6 million people in 22 countries across Africa and the Middle East.
The telecom company entered the Ugandan trade in 1998. In the 12 months ended 31 December 2019, MTN Uganda’s tax revenue to government amounts to USh1.5 trillion (approx. US$407 million).
- Nile Breweries Limited.
With her headquarters located in Njeru town, Buikwe district, Nile Breweries Limited is the largest brewing company in Uganda. The company imports and manufactures beer and produces purified drinking water. The company is one of Uganda’s most iconic companies and the undisputed leader of the beer industry with 57.7% market share. The company contributes it’s success to great priority in preserving the Ugandan history and heritage and also concentrating on local raw materials as opposed to imported ones. For example, Eagle Lager, one of the company’s products was launched to promote the use of locally grown sorghum and to make lager beer. The company is owned by SABMille and contributes a tax revenue of Shs327b to government.
- Airtel Uganda Limited
Coming third of our biggest and richest Ugandan companies is Airtel Uganda limited. The company is owned by the Indian parent company Bharti Airtel Limited. The company also offers mobile funds transfer and banking services known as Airtel Payments Bank. The company has made it to the top through several acquisitions.
The company was founded in 1995 as Celtel Uganda, the first privately owned mobile telephone company in Uganda. In July 2007, Celtel Uganda changed its brand name to Zain Uganda. In 2010, Bharti Airtel acquired majority shareholding in the business and the name was changed to Airtel Uganda. The company’s tax revenue to government is a whooping Shs500b.
- Uganda Breweries Ltd
Uganda Breweries Ltd is the oldest brewery (UBL) in Uganda with 72 years of operation. In fact, it is among the few oldest companies in Uganda still in business having been registered in 1946 shortly after the second World War. since its inauguration, UBL had a capacity of producing 650,000 hectoliters which have since increased to more than 1.2 million hectolitres currently.
To achieve this, the company has undertaken many investments in infrastructure, innovation and brand versatility. The company is a subsidiary of East African Breweries Ltd (EABL). EAB owns 92.8% of Uganda Breweries Ltd. The tax revenue to government is Shs304b.
- Stanbic Bank
Stanbic Bank is the largest commercial bank in Uganda with assets more than UGX 5.4 trillion. The bank first operated in Uganda as the National Bank of India in 1906. As of 31 December 2020, the banks assets were valued at Shs8.58 trillion (US$2.387 billion) and has a revenue after tax amounting to USh 241.7 billion (US$67.23 million). In June 2018, Fitch Rating Agency gave Stanbic Bank Uganda a AAA rating with a Stable outlook. The back is owned by Stanbic Africa and contributes Shs164b to the national revenue.
- Tororo Cement
Tororo Cement Limited (TCL) is the largest producer of cement in Uganda producing 3 Million metric ton annually, after installation of new energy efficient modern state of the art technology, Cement grinding (VRM) mill, Rotary packers and Silos. The company directly and indirectly provides employment to over 8000 people.
This company was established in 1952 by the British as Uganda Cement Industries to manufacture cement from the abundantly available limestone in the area around the town of Tororo in the Eastern Region.. The company’s tax value to government is Shs 367,998,929,993.
- Century Bottling Co Ltd
Century Bottling Company Limited is a Franchise Bottler and distributor of Coca Cola Products in Uganda and is owned by CocaCola Sabco. Century Bottling Company is the official authorized producer and distributor of Coca-Cola products in Uganda. The company owns two plants: one in Namanve (with a capacity of producing 24,000 bottles an hour) and another in Mbarara. The tax revenue for this company is worth Shs 78,879,404,573.
- Bujagali Energy Limited
In our eighth spot comes Bujagali Energy Limited (BEL), a company owned by the Bujagali Industrial Power Company Limited. BEL is a single purpose company, formed to develop the 250megawatt Bujagali Hydropower Station. The company was started in 2004, and it owns the largest hydropower plant in Uganda, the Bujagali Power Station. The tax revenue for this company is exceeds Shs 74,975,273,650.
- Kakira Sugar Limited
Kakira Sugar Works Limited, often referred to as Kakira Sugar Works (KSW), is a leading sugar manufacturer in Uganda, the third-largest economy in the East African Community. The company recently received an upgrade and now crushes more than 7,500 tons Cane per Day, accounting for nearly 47% of the sugar supply in Uganda.The tax revenue for this company is more than Shs 70,620,565,962.
- Umeme Limited.
Umeme is the largest energy distributor in Uganda, accounting for almost 97% of the country’s supply of electricity. Umeme was formed in 2004 when the government of Uganda leased the Uganda Electricity Distribution Company Limited to a consortium belonging to Globeleq (56 percent), a subsidiary of the Commonwealth Development Corporation of the United Kingdom, and Eskom of South Africa (44 percent).
The company’s assets are worth UGX 1.775 trillion and shares worth UGX 503.8 trillion. The company’s taxes are worth Shs 66,307,152,305.
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