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CiplaQCIL lists on USE

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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.

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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.”

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Local Business

Uganda Breweries partners with Kabaka Foundation to construct sanitation facilities in city markets

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In a bid to improve the sanitation and hygiene that are health concerns in Kampala markets, Uganda Breweries Limited has launched a sanitation project that will see the brewery construct modern public sanitation facilities for the residents and traders of Nakulabye, Katwe, Mengo and Mulago Markets.

The project dubbed the “Kampala City Markets water and Sanitation” has been done in partnership with the Kabaka Foundation, which is an NGO presided over by His Majesty the Kabaka of Buganda. The 3 months project which is part of UBL’s “Water of Life” initiative will cost UGX 300 Million and will benefit over 26,000 people.

Under this project, each Market will get a modern sanitation facility with eights units; a toilet for people with disabilities, a washroom for men and women, three urinal bowls for men, one shared attendants room, a water reservoir of 5000 liters, a 1000 liter over- head tank and a water pump.

Speaking during the ground breaking ceremony at Nakulabye Market, Uganda Breweries Managing Director Mark Ocitti said, “Access to clean sanitation facilities is critical to the health and prosperity of our communities, and yet, too many people especially in the markets around the city do not have access to these basic services. Uganda Breweries is proud to partner with the Kabaka Foundation to reform and improve the lives of more than 26,000 people who live and work around these markets.”

Ocitti noted that this project is not the first done in partnership with the Buganda Kingdom. “UBL and the Kingdom have a long standing partnership to brew Ngule beer, the Kingdoms official beer. The beer is made from cassava and sorghum all of which are sourced locally from Buganda Kingdom.”

In his remarks, Owekitibwa Chris Bwanika, a Trustee in the Kabaka Foundation said, “This project marks another milestone in achieving Kabaka foundation’s aim of improving sanitation. Kampala city markets have dilapidated sanitation facilities and with the construction of these new facilities, we will now be able to address the problem of poor sanitation and the consequent spread of diseases among the residents, especially the children.”

Uganda Breweries Limited has in the past years run similar projects. In 2017, the company constructed public sanitation facilities worth UGX 300 million at Port Bell and Kirombe markets. The project benefits over 12,000 residents, traders and visitors to the two areas. UBL has also previously constructed sanitation facilities in Ggaba market and Kinawataka market.

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Local Business

Sheraton hosts Muslim community to iftar dinner

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Sheraton Kampala Hotel treated the Muslim community to iftar dinner as they broke their fast on Thursday evening. The dinner was held to thank their Muslim partners, clients and guests for the continued support to the hotel and to also wish them blessings during this holy month of Ramadan.

The dinner was a blend of Middle Eastern and Ugandan cuisine consisting of special and customized meals of starter, salads, condiments & dressing, soups, main course, carving, dessert and a variety of drinks.

While addressing the guests during the dinner, the General Manager, Sheraton Kampala Hotel, Jean-Philippe Bittencourt encouraged the Muslims to keep up with the good spirit of brotherhood as they observe this Ramadan. He further thanked them for the immeasurable support to the Sheraton hotel and encouraged them to work as a team for peace and unity to be realized.

“To observe, this holy month, the hotel has set aside a special prayer place where our employees, guests and customers can say their prayer and break their fast. We have a designated area at the Victoria Restaurant where they can have a lavish buffet as they break their fast from Monday to Saturday,” Mr. Jean Philippe Bittencourt further noted.

Ramadan is the ninth month of the Islamic calendar and, is observed by Muslims worldwide as a month of fasting to commemorate the first revelation of the Quran to Muhammad, according to Islamic belief. Muslims are expected to put more effort into following the teachings of Islam with the fast beginning at dawn and ending at set.

Sheraton hotel during this holy month of Ramadan has special daily Iftar menu packages for individuals, families, groups and companies hosting their Muslim clients or customers to a special dinner.

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Local Business

V-Power weekend is back

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Emmanuel Ssebunya, Vivo Energy Brand Manager – Fuel .

Emmanuel Ssebunya, Vivo Energy Brand Manager – Fuel refills a customer’s car at Shell Bugolobi.

By Our Reporter

“V-Power Weekend”, a promotion that allows customers to purchase Shell V-Power at the same price as regular fuel, is back.

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Launched in March this year, the promotion is open to all Shell customers and is available at over 80 Shell stations countrywide. The offer runs for the entire weekend starting Friday morning to Sunday evening.

“This promotional offer is aimed at getting car owners to try the advanced fuel formulation and experience the thrilling power and performance of our premium fuel Shell V-Power,” said Emmanuel Ssebunya, Brand Manager Fuels at Vivo Energy Uganda. “Shell’s new fuels contain exclusive DYNAFLEX Technology which helps clean and protect key components in vehicle engines, reduces friction between the piston and cylinder wall, reduces possibility of engine knock leading to better engine efficiency and performance.”

The V-Power Weekend offer will run every month till December 2019 to give as many motorists as possible an opportunity to experience Shell premium fuels.

“Whatever car you drive, wherever you are going, visit a Shell station to get a full tank of Premium Shell V-Power at the price of regular fuel and GO WELL,” he added.

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