By Staff Writer
Cipla Quality Chemical Industries Limited (CiplaQCIL), a leading pharmaceutical manufacturing company in Sub Saharan Africa operating in Uganda, today officially listed on the Uganda Securities Exchange. The Listing Day event was graced by the Minister of Trade, Industry & Cooperatives, Amelia Kyambadde and held at Kampala Serena Hotel with the ceremonial Bell Ringing to start trading in CiplaQCIL at exactly 9:30am.
The Uganda Securities Exchange public trading floor and Automated Trading System (ATS) were relocated to the Serena, the first time this has been done for a Listing Day.
Emmanuel Katongole, Executive Chairman CiplaQCIL said, “Today, is a key milestone not just for the Company but also for Ugandans because it is a testament to the fact that enterprise, integrity and partnerships will make your dreams come alive. We are excited for the next phase of the CiplaQCIL journey and even more so because we are embarking on this journey with many Ugandan individuals, investment clubs, and institutional investors. We are grateful for the interest and support during the IPO period shown by the institutional and retail pool investors who participated in the offer.
Nevin Bradford, the CEO of CiplaQCIL said,‘This public listing, is in line with our long term vision at CiplaQCIL to become a center of excellence in the manufacturing of quality, affordable and newer medicines that improve the quantity and quality of life. Since our humble beginning 13 years ago, we have made a significant contribution to the effort to save lives by arresting the scourge of dreaded diseases, such as malaria, HIV/AIDS and hepatitis B. Our WHO pre-qualified products are already approved by regulatory authorities in: Uganda, Kenya, Rwanda, Tanzania, Namibia, Ivory Coast, Zambia, Zimbabwe, Malawi, Namibia, Mozambique, Ghana, Ethiopia, Angola and South Sudan among others. We continue to pledge zero tolerance for any compromise in quality at our state-of-the-art Kampala manufacturing plant.’
Paul Bwiso, the CEO Uganda Securities Exchange said,“We congratulate CiplaQCIL upon being the first company with Ugandan founders and entrepreneurs to bring their company for a listing on the USE. It is the 9th local company to be listed and as a pharmaceutical manufacturing company offers investors a unique asset. 2105 new investors opened securities accounts to participate in the offer. As part of the USE mandate and the leading platform for secondary market trading in Uganda we must continuously review our value addition to all stakeholders, investors, issuers, custodians, brokers and all market players. We congratulate CiplaQCIL on this historic achievement and thank them on behalf of the market.’
John Porter, Chief Business Officer Renaissance Capital, the Lead Transaction Adviser and Sole Bookrunner for the CiplaQCIL IPO said, “We take pride in executing a deal for the company with such a crucial humanitarian mission. Following the successful roadshow, the offering has been oversubscribed with the major part of the demand coming from blue-chip SSA investors. Robust participation from Ugandan and international institutions demonstrated confidence in the CiplaQCIL story and Uganda’s capital markets as an avenue for growing investors’ assets. It is our strong belief that the transaction will also have economic and social impact in the region by way of improving employment, national trade balance and ultimately investment climate in general.”
Robert Baldwin, the CEO Crested Capital the Lead Sponsoring Stockbroker for the CiplaQCIL IPO said,“We are extremely pleased to reach today’s Listing Day milestone for CiplaQCIL. The turnout of new, first-time investors in the retail pool was much higher than anticipated. More than thirty investment clubs and SACCOs also participated in the offer, deepening the engagement of the investing public in Uganda’s stock market. Finally, this IPO is the most cost-efficient in history with less than 5% of the advertising and promotional budget of previous public offers. I commend the issuer, transaction advisors, Crested’s Special Project team and of course our regulators CMA and USE for their tireless efforts to bring CiplaQCIL to market.”
Fanfare in Masaka as MTN launches “MoMo Nyabo” promo
By Our Reporter
Business was brought to a standstill in Masaka town on Friday afternoon as MTN Uganda launched the second edition of the “MoMo Nyabo” campaign which is aimed at encouraging customers to transact using Mobile Money.
The campaign which was officially launched during a press briefing held at Brovad Hotel was marked by a flurry of fanfare, much to the excitement of the town dwellers.
The launch was followed by a procession around the town displaying the brand new Toyota Wish cars and motorbikes that will be given away during the campaign.
It culminated in a mega concert which was hosted at the Masaka Recreation grounds. Revelers were entertained by Uganda’s top artistes including Jose Chameleone and Bebe Cool among others.
During the concert, the first winners in this year’s MoMo Nyabo campaign were also announced. Kigundu Rashid and Steven Nanziga emerged the lucky winners and each walked away with a motorcycle.
Meanwhile, prizes worth Ugx 1.5billion will be won by lucky customers in the eight week campaign.The prizes include 24 cars, 32 Boda bodas, 160 smartphones as well as mobile money.
The MoMo Nyabo promotion is part of a series of offers the telecom company has launched in recent times to reward customers including bonus on data bundle purchase via MTN Mobile Money and a few days ago, MTN slashed mobile money sending rates by more than half.
“This will be a double win for our customers. First of all, they will be sending money at half price. While doing that, they will be entered into a draw to win one of those exciting prizes. So in a way, all our customers will be winners”. Samuel Gitta, MTN Uganda’s Ag. GM Risk & Compliance said.
“We are continually evolving to make our customers’ lives better. We value and appreciate our customers and all that we are doing is just to give back to them for continuing to support us,” he added.
For customers to stand a chance to win one of the prizes, all they have to do is dial *165*1#. Customers will then automatically enter into a draw to win the exciting prizes.
Vivo Energy in joint venture with Kuku Foods to accelerate roll-out of KFC restaurants
By Our Reporter
Vivo Energy plc (Vivo Energy), the pan-African retailer and distributor of Shell and Engen-branded fuels and lubricants, has agreed to form a non-fuel joint venture to accelerate the roll-out of KFC restaurants in Kenya, Uganda and Rwanda. The 50:50 joint venture will manage and operate the restaurants in the three markets on behalf of Kuku Foods East Africa Holdings (Kuku Foods), who will remain the local KFC franchisee. Completion of this transaction is subject to standard legal agreements and regulatory and competition authority approval.
The restaurants, 22 in Kenya and 8 in Uganda, are located in shopping malls, city centre locations, and service stations. Kuku Foods plans to open its first KFC restaurant in Rwanda in 2019.
The 5 KFC restaurants operated by Kuku Foods Tanzania, the KFC franchisee in Tanzania, will not form part of the transaction.
The joint venture will enable a significant increase in the number of KFC restaurants in the portfolio in the coming years. It is envisaged that many of the new restaurants will be opened at Vivo Energy’s network of service stations across Kenya, Uganda and Rwanda, which leverages Vivo Energy’s retail footprint, with more countries to be considered in the future, based on market opportunities.
Commenting on the transaction, Christian Chammas, CEO of Vivo Energy, said: “We are delighted to be partnering with Kuku Foods to replicate the KFC joint venture model we pioneered in Botswana and Côte d’Ivoire. Kuku Foods shares our ambition to invest in order to grow the number of restaurants and give more African customers access to the internationally renowned KFC brand. This partnership further demonstrates our ambition to continue to offer more convenience to satisfy the evolving needs of our growing number of African customers.”
Derrick Van Houten, Group CEO of Kuku Foods and Principal Operator of the KFC franchises, added: “Having launched our first KFC in East Africa in 2011, we have successfully grown the business over the last eight years. We are delighted to announce this new partnership with Vivo Energy to continue this growth, bringing our world-renowned KFC products and experience to as many customers as possible.”
KFC Africa’s General Manager, Tarun Lal concluded: “We are delighted that KFC can leverage the joint venture entered into between Vivo Energy and Kuku Foods to continue to grow its network of KFC restaurants in Africa. We are confident that the KFC franchisee will continue to provide customers with a great KFC experience, driving improvements in customer
service and quality through its relationship with Vivo Energy.”
Rising Woman initiative returns for second edition
By Our Reporter
Monitor Publications Limited’s (MPL) flagship brand Daily Monitor in partnership with dfcu Bank’s Women in Business Program and Uganda Investment Authority(UIA) have launched the second edition of the Rising Woman initiative.
The Rising Woman initiative which was started last year under the theme ‘Taking your business ahead’ is meant to recognize, celebrate and promote a culture of mentorship among women in business in Uganda and targets Ugandan business women, Small scale investors, Entrepreneurs, Members of Uganda Women Entrepreneurs Association Limited (UWEAL), Members of Uganda Small Scale Industries Association (USSIA) and Uganda Manufacturers Association (UMA) members.
Speaking at the launch, dfcu Chief Executive Officer Mathias Katamba called the initiative a “…fundamental step on the path to creating a financially-enabling environment for female entrepreneurs.”
He went on to note that the bank has created programs and products which specifically address the financial needs of women across the country. “As a financial institution that believes in building thriving communities, dfcu embarked on a journey to creating an enabling environment for Small and Medium Women owned Enterprises starting in 2007, with the introduction of the Women in Business program. Our primary motivation is the fact that despite women making up over 52% of the population of Uganda, it is not reflected in the ratio of women who have access to financial services.”
“Through the program, we work with women in diverse ventures to turn business ideas into realities which in turn become vehicles for change in communities. With over 53 years of lending to SMEs, and at least 10 years running the WiB program, dfcu Bank understands the financial needs of women and goes ahead to provide tailor-made solutions for them,” Katamba added.
He also officially announced the call for business proposals through the bank’s official website which will begin the contention for the top 10 business ideas.
The proposal submission is already underway and will run up to 20th September 2019. The top 3 winners will walk away with Ugx 15 million, Ugx 10 million and Ugx 5 million respectively and the top 10 will take part in an all-expense study tour trip to Nairobi.
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