Madhvani Group

Madhvani Group
Conglomerate
Industry Manufacturing, tourism, information technology
Founded 1914 (1914)
Headquarters Kakira, Uganda
Key people
 Mayur Madhvani
Group Managing Director[1]
Products Electricity, matches, insurance, construction, sugar, tea, communication, horticulture, software, hotels and resorts
Revenue US$100+ million (2009)
Total assets US$500m (2012)
Number of employees
 10,000+ (2009)
Website Homepage

The Madhvani Group of Companies commonly referred to as the Madhvani Group, is one of the largest conglomerates in Uganda, with an estimated asset base exceeding US$500 million as of January 2012.[2] The group has investments in Uganda, Rwanda, South Sudan, Tanzania, the Middle East, India, and North America.

History

Main article: Muljibhai Madhvani

In 1912, Muljibhai Madhvani, then aged 18, arrived in Jinja. He was able to take a small trading concern and create a business that would later account for 10 percent of Uganda's gross domestic product. His workers and their dependents have enjoyed free education, housing, and healthcare under the Group. The Group's businesses are run primarily by Madhvani family members, but many of the newer investments are joint ventures with other businesses.[3]

During the 1970s, the Madhvani family was expelled from Uganda by Idi Amin and their businesses were nationalized and mismanaged to near-extinction. In 1985, the family returned to Uganda and with loans from the World Bank, the East African Development Bank, and the Uganda Development Bank, they resurrected and rehabilitated their businesses and started new ones.[4]

Muljibhai Madhvani Foundation

The Muljibhai Madhvani Foundation is a charitable trust that was established in 1962 on the eve of Uganda's independence to honor the vision of Muljibhai Madhvani (14 May 1894 – 11 July 1958), the founder of the Madhvani empire.

The foundation awards scholarships to deserving undergraduate and postgraduate university students with limited means to study in Ugandan Universities. One of the Foundation's primary objectives is to maintain and promote scientific and technical education among the people of Uganda. UGX:650 million (approximately US$300,000) is awarded each year under the scholarship program. Emphasis is placed on sponsorship of students in the following fields: (a) agriculture (b) sciences (c) information technology (d) commerce and (e) medicine[5]

Subsidiary companies

The Madhvani Group includes but is not limited to the following companies:[6]

Prominent family members

The following are some of the prominent members of the Madhvani family:[9]

See also

References

  1. ↑ Newvision, Archive (19 February 2007). "Mkapa Tours Kakira". New Vision. Retrieved 13 July 2014.
  2. ↑ Michael Kanaabi, and Ssebidde Kiryowa (6 January 2012). "The Deepest Pockets". New Vision. Retrieved 14 July 2014.
  3. ↑ Namaganda, Sumin (11 May 2010). "Building On The Legacy of A Family Business". Daily Monitor. Retrieved 13 July 2014.
  4. ↑ MVF. "The Madhvani Group of Companies". MadhvaniFoundation.com (MVF). Retrieved 14 July 2014.
  5. ↑ MVF. "The Muljibhai Madhvani Foundation". MadhvaniFoundation.com. Retrieved 14 July 2014.
  6. ↑ Nsehe, Mfonobong (8 January 2014). "The 10 Leading Family Businesses In Africa". Forbes Africa. Retrieved 14 July 2014.
  7. ↑ Muhumuza, Mark Keith (8 February 2016). "Liberty acquires majority stake in Madhvani's firm". Daily Monitor. Kampala. Retrieved 8 February 2016.
  8. ↑ Google. "Location of Kakira Airport At Google Maps". Google Maps. Retrieved 14 July 2014.
  9. ↑ Odongo, Jacobs (29 July 2008). "From India, Penniless, Madhvani Made A Fortune In Uganda". New Vision. Retrieved 14 July 2014.
  10. ↑ Newvision, Archive (17 May 2011). "Madhvani Group Loses Family Member". New Vision. Retrieved 14 July 2014.
  11. ↑ Random House, India (8 December 2009). "Manubhai Madhvani – First Night In Jail". Random House India. Retrieved 14 July 2014.
  12. ↑
  13. ↑ Butagira, Tabu (28 June 2013). "Newly-Appointed Ambassadors Stranded In Kampala". Daily Monitor. Retrieved 14 July 2014.
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