Prime
Uganda’s top 100 mid-sized firms named
Mr Stephan Duyck, the Fresh Cuts managing director, is carried during the award dinner in Kampala on Friday. The company was recognised for its efforts to graduate from a mid-sized company. PHOTO BY STEPHEN WANDERA.
Kampala- Graphic Mutation, a locally-owned company has been named the number one mid-size company in a colourful ceremony held in Kampala.
The Nasser Road-based printing company emerged winner after a survey conducted by KPMG, an audit and advisory firm, found that the firm had ticked all the required boxes.
With the top prize in the bag, Graphic Mutation has not only greatly enhanced its image among its peers but has also boosted its appeal across East African.
Integrated Security Solutions came second, followed by Sillah and Azaan Trading in the fourth spot as Macdough Foods Uganda took the fifth position.
Also ranked among the top 10 were Bemuga Forwarders (6), Prestige Driving School(7), Prestige Electronics (8), Mechtools and Equipment Ltd (9) and Kwik Build Contractors (10).
As a requirement, all the surveyed mid-size companies’ annual turnover must range between Shs360m to Shs25b.
They all had to provide financial ratios based on a three-year audited accounts and they should not have been among the public listed companies.
According to KPMG, at least 300 companies were audited and those which made it in the Top 100 met all the criteria that befit the mid-size companies.
This means that the listed firms are financially sound and they also have the ability to professionally and ethically do business both within and beyond Uganda.
Some companies that had been listed as mid–sized companies have since graduated from the segment surpassing the Shs25 billion turn over.
The companies include; Fresh Cuts, Speedag Interfreight, Roof Clad and Farm Engineering.
Meanwhile, Louise Memorial Medical Centre was awarded the shareholder Value Champion prize, Bwik Petroleum walked away with working capital management champion, Bemuga Forwarders scooped the Revenue Growth Champion, as Ms Irene Kego Oloya took the Woman Entreprenuer of the year award. Banyankole Kweterana Coop Union won the rural champion award.
The Friday ceremony was graced by Vice President Edward Ssekandi, Trade Minister Amelia Kyambadde and Finance Minister Maria Kiwanuka, in addition to officials from private and public sectors.
The government pledged to continue creating an environment that will see the Small and Medium Enterprises prosper.
The sponsors, Sage Pastel, Stanbic Bank and Insurance Company of East Africa, all said they will continue to be involved with the initiative because they believe in it.
BACKGROUND
The brainchild: The Top 100 mid-size survey is the brain child of Monitor Publications Limited and KPMG. It was started five years ago in Uganda. It has been in Kenya for seven years and now in Tanzania and Burundi.
Exempted: Financial service institutions including banks, Micro Deposit taking Institutions and insurance firms are exempted from participating in the survey.
[email protected]
