New Vision Group Explained

Vision Group
Type:Publicly Traded Conglomerate
Location:2/4 First Street, Kampala, Uganda
Key People:Patrick Ayota (Chairman)
Don Wanyama (CEO)
Revenue:Aftertax: UGX:1.0 billion (2022)[1]
Assets:UGX:85.85 billion (2017)[2]
Industry:Publishing, Printing, Broadcasting and Telecasting
Products:Newspapers, Magazines, Books, Television Stations, Radio Stations

The Vision Group of Companies, commonly known as the Vision Group, is a multimedia conglomerate in Uganda. It publishes the New Vision (newspaper), an English-language daily newspaper, that appears in print form and online, as well as newspapers and magazines in a variety of Ugandan languages.[3]

History

The group was established in 1986, with the flagship publication, the New Vision Newspaper. The company's first managing director was William Pike, who started the year the group launched.[4]

In 2007, a board member of the New Vision Group was allegedly poisoned.[5] In 2009, the group apologized for publishing a corruption story on Muwenda Mutebi II of Buganda.[6]

The group launched its global mobile application (E-Paper) in 2015 but disabled it in 2019 to work on upgrading it.[7] In March 2016, the groups signed a partnership with Wakaliwood Uganda to promote the Ugandan film industry.[8] In 2017, the group's accountant was sentenced to five years in prison for embezzling 262 million shillings from the group from 2008 to 2013.[9]

In May 2020, in the outburst of the COVID-19 pandemic in Uganda, the New Vision Group sent dozens of employees on forced leave without pay, twelve days after it had announced major salary cuts.[10] Following this announcement, the group's accountant was found dead in her house.[11]

Overview

The group's holding company is The New Vision Printing & Publishing Company Limited (also referred to as the Vision Group). The Group owns other newspapers, radio stations and two television stations, as of January 2010.[12] [13] The stock of the holding company is traded on the Uganda Securities Exchange, under the symbol NVL.

The address of the Group's headquarters is 19-21 First Street, in the industrial area of Kampala.[3] [14]

Subsidiary companies

The subsidiary companies of the Vision Group include:[15]

  1. New Vision (newspaper): published in English
  2. Bukedde newspaper: published in Luganda
  3. Orumuri newspaper: published in Runyankore/Rukiga (or Runyakitara[16])
  4. Etop newspaper: published in Ateso
  5. Rupiny newspaper: published in Luo[15]
  6. Premiership magazine: Soccer magazine covering English, African and Ugandan soccer news, published monthly in English.
  7. City Beat magazine: Entertainment magazine aimed at the affluent 19 to 35 demographic age group, published monthly in English
  8. Secondary Schools Directory: published annually in English
  9. Bride & Groom magazine: Bridal magazine, published quarterly in English[15]
  10. New Vision Printing & Publishing Company Limited: Most newspapers in Uganda, Rwanda and Southern Sudan are printed by Vision Printing.[17]
  11. Vision Voice FM 94.8, (now X-FM): Based in Kampala. Broadcasts in English, covers a radius of 100km (100miles).
  12. Radio Bukedde FM 100.5: Based in Kampala. Broadcasts in Luganda
  13. 100.2 Fm Radio West : Based in Mbarara. The dominant radio station in the Western Region of Uganda. Broadcasts in Runyankole/Rukiga, Runyoro/Rutoro and English.
  14. Radio Rupiny FM 95.7: Based in Gulu. Broadcasts in Luo
  15. Radio Etop FM 99.4: Based in Soroti. Broadcasts in Ateso[18]
  16. Arua One FM 88.7: Acquired in Arua during 2012. Broadcasts in Lugbara, Swahili and English.
  17. Urban Television: Launched in October 2009. Transmits in English
  18. Bukedde Television (BTV): Launched in October 2009. Transmits in Luganda
  19. West Television (West TV): Operating in the Western parts of Uganda alongside Radio West. transmits in Runyankole/Rukiga, Runyoro/Rutoro and English.[15]

Ownership

The Vision Group is owned by the Ugandan government and by institutional and individual investors. The shares of the Group are traded on the Uganda Securities Exchange (USE), under he symbol:NVL. The table below summarizes the ownership structure of the Vision Group, as of 30 June 2016.[19]

Rank !!Name of Owner!!Percentage Ownership
1Ministry of State for Finance (Privatization)26.67
226.67
3National Social Security Fund19.61
4National Social Security Fund: PineBridge2.86
5National Insurance Corporation2.70
6Bank of Uganda Staff Retirement Benefit Scheme

AIG

2.23
7Bank of Uganda Staff Retirement Benefit Scheme

SIM

1.28
8Insurance Company of East Africa Uganda Limited 0.74
9Wazunula Samuel Mangaali 0.67
100.62
11Other Institutional & Individual Investors15.97
Total100.0

See also

External links

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Notes and References

  1. Web site: PML Daily . 11 October 2022 . Don Wanyama leads Vision Group to 36% post-Covid-19 revenue jump and UGX1 bn net profit . Javira Ssebwami . 12 October 2022 . Kampala, Uganda.
  2. Web site: 5 June 2018 . New Vision Group Annual Report for Year Ended 30 June 2017. PDF . 4 October 2017 . New Vision Group . Kampala . Vision Group .
  3. Web site: Vision Group names building after William Pike . 5 June 2018 . 23 September 2017 . Geoffrey . Mutegeki . . Kampala.
  4. Web site: Vision Group names building after William Pike. Newvision.co.ug. 23 September 2017. Geoffrey Mutegeki. 2 June 2020.
  5. Web site: Uganda: pressed for freedom. Humanrightshouse.org. 20 August 2010. Ida Berg Slang. 2 June 2020.
  6. Web site: How Mengo,New vision crisis was resolved. Observer.ug. 2 August 2009. Ssemujju Ibrahim Nganda. 2 June 2020.
  7. Web site: Vision Group E-paper app to be scrapped off the Play Store. Dignited.com. 27 June 2019. 2 June 2020.
  8. Web site: Vision Group enters partnership to promote film industry. Newvision.co.ug. 13 March 2016. Abou Kisige. 2 June 2020.
  9. Web site: Vision Group Principal Accountant jailed 5 years for theft of 262m. Independent.co.ug. 2 August 2017. 2 June 2020.
  10. Web site: After salary cuts, Vision Group sends dozens of staff on forced leave without pay. Pmldaily.com. 12 May 2020. George Okello. 2 June 2020.
  11. Web site: Vision Group Accountant in Mbarara Found Dead. Softpower.ug. 17 May 2020. Brian Asiimwe. 2 June 2020.
  12. Web site: Sylvia . Juuko . 5 June 2018 . New Vision Expands Into Television . . 29 October 2009 . Kampala.
  13. Web site: Bukedde TV Station Starts . . 29 October 2009 . 5 June 2018 . Vision Reporter . Kampala.
  14. Web site: 5 June 2018 . 5 June 2018 . New Vision Group: Contact Information . Vision Group . New Vision Group . Kampala.
  15. Web site: New Vision Group: Products . 5 June 2018 . 2016 . Vision Group . Kampala . New Vision Group.
  16. Web site: Orumuri (@Orumuri) Twitter. twitter.com. en. 2020-05-06.
  17. Web site: 5 June 2018 . Profile of New Vision Printing & Publishing Company Limited . 5 June 2018 . Preventionweb.net . Preventionweb.
  18. Web site: 5 June 2018 . Patrick . Jaramogi . Etop Radio Takes Over Teso Airwaves . . 20 October 2009 . Kampala.
  19. Web site: 5 June 2018 . PDF . Kampala . Annual Report for the Twelve Months Ended 30 June 2017: Summary of Shareholder Distribution . 39 . 1 November 2017 . New Vision Group . New Vision Group.

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