Judul : Museveni to commission Shs700b factories today
link : Museveni to commission Shs700b factories today
Museveni to commission Shs700b factories today
What you need to know:
- Mr Ashish Monpara said the Modern Group is contributing not only to uplifting the livelihoods of its employees but also generating revenue for the government and facilitating development of the country.
President Museveni is today expected to commission 10 factories worth $200m (Shs712.6 billion), established over the last decade by Mr Ashish Monpara, the proprietor of Modern Group. The multi-million-dollar factories in Buikwe District that employ about 3,800 Ugandans, include: Modern Distillers (2017), Modern Gas (2018), Modern Aluminium (2019), Modern Organic Fertiliser (2019), Modern Sanitiser (2020), Modern Tiles (2020), Kidera Sugar (2023 – to become operational in the next two months), Lamborghini Drinks & Beverages/Modern Spirits (2022), and Modern Power (2023).
Speaking to the Daily Monitor, the State Minister for Investment and Privatisation, Ms Evelyn Anite, confirmed the development, describing it as “a game-changer and a great contributor to Uganda’s development and economic growth.” “Unlike many investors who approached me for tax exemptions and land, among others, all he wanted was government recognition that he is doing business here. That was with a promise that he would pay his taxes and employ Ugandans. He emphasises quality, affordability, and is a people-centred person ready to give his employees long-term contracts so they can also contribute to the National Social Security Fund (NSSF). So he is a very unique entrepreneur,” she said.
She added: “By the time the investor approached me, he was on the verge of giving up on the Ugandan market. That is because he had fallen into the hands of unscrupulous people who had extorted him and put conditions on the products he was to bring to the market. They had also sold to him land in wetlands despite the government having a policy of not investing in the swamp.” Mr Monpara, who first came to Uganda in 2015 with his father, told this newspaper yesterday that he had built a multi-million-dollar empire from scratch. He said they laid the foundation of their first plant, Modern Distillers Ltd, in December 2015. “We have since established 10 industrial verticals, with a total investment of over $700 million, with an import substitution value of $100 million. However, keeping the growth pace, we never failed to provide quality in our products,” he said.
He added that the quality of their products could be evidenced by the multiple prestigious awards they had received. These include the Consumer’s Choice Awards in Gold and Platinum ratings for 2022 and 2023, respectively, for Tiles; Platinum winner for the East Africa Brand Quality Award for Aluminium and Tiles (2022); and the Manufacturing Excellence Award for their Tiles Plant, given by the Ministry of Trade, Industry and Co-operatives in 2022. “The most prestigious among them was the Best FDI Award for our Tiles Plant in the Global Investment Awards held in the UAE in April 2023. Amongst 170 participating countries, we fetched the coveted award for Uganda for the first time in 12 years of the history of the award,” he said.
Mr Monpara said the Modern Group is “contributing not only to uplifting the livelihoods of its employees but also generating revenue for the government.”
“We aim to supply our products both to the domestic as well as the export market and thus not only earn forex revenue for the country but also build the brand image of Uganda in cross-border countries. Modern Group is the first group in the world to sign a production deal with Lamborghini, a global conglomerate with a brand value of 280 million euros. We will produce Lamborghini products here in Uganda and export them to the US and Asian markets,” he said.
He further revealed that the firm is increasing investments in refined and industrial sugar, already underway in Buyende District through Kidera Sugar, with a 50MW power plant also in the pipeline. Plans are at an advanced stage for investment in a steel and iron ore plant.
“Our group is also looking to set up a pharmaceutical vaccine plant. All in all, in the next three years, the group will invest another $500 million, totalling $1.2 billion in 10 years since our first investment in the country,” he said.
Employment
The Modern Group currently directly employs about 3,800 people and approximately 10,000 people indirectly, “contributing not only to uplifting their standards of living but also to generating revenue for the government.”
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