Unga Group Explained

Unga Group Limited
Type:Public
Key People:Isabella Ochola-Wilson
Chairperson of the Board
Joseph Choge
Group CEO
Products:Animal Feeds, Maize and Wheat products
Revenue: KES: 18.5 billion (2015)
Net Income: KES: 635 million (2015)
Assets: KES: 8.67 billion (2015)
Equity: KES: 5.35 billion (2015)
Location:Nairobi, Kenya
Homepage:Homepage

Unga Group Limited is a Kenyan-based holding company with its investments in the business of flour milling and manufacturing of human nutrition products and animal feeds.[1] The group has operations in Kenya and Uganda.

Overview

Unga Group was founded in 1908 making it one of Kenya's oldest companies. The group's headquarters are in Nairobi with flour mills in Eldoret, Nakuru and Mombasa.[2]

In 2000, Unga Group was in losses and entered into a strategic investment partnership with Seaboard Corporation to form Unga Holding Limited as part of its recovery strategy.[3] Unga Groups operations were all transferred to the newly created subsidiary. Seaboard Corporation brought on-board capital and technical expertise.[4]

Unga Group re-entered the bread market in 2015 through its acquisition of Ennsvalley Bakery. This move was aimed to diversify the group's investments.[5] This acquisition was funded by the proceeds the group earned from the sale its 51% stake in Bullpak, the group's paper packaging subsidiary, to South African based Nampak.[6]

Member companies

The companies that compose Unga Group include and are not limited to:

Shareholding

The shares of the stock of Unga Group Limited are traded on the main market segment of the Nairobi Securities Exchange, under the symbol: UNGA., the shareholding in the group's stock was as depicted in the table below:[13]

Rank !!Name of Owner!!Percentage Ownership
1Victus Limited 50.93
2Moses Thara 5.03
3Rakesh Prakash Gadani 4.58
4Other Local & International Investors 39.46
Total100.00
The group's largest shareholder, Victus Limited, is associated with First Chartered Securities. A Kenyan investment company with interest in real estate, banking, farming and insurance.[14]

Governance

Unga Group is governed by a nine-person board of directors with Isabella Ochola-Wilson serving as the chairperson and Nicholas Hutchinson as the chief executive officer.[15]

External links

Notes and References

  1. Web site: Contact Information – Unga Group. 2016-10-16.
  2. Web site: Unga Group – About us. Unga Group. 2016-10-16.
  3. Web site: Unga's US shareholder earns Sh4.1bn in raw materials deal. November 29, 2012. Business Daily Africa. Nation Media Group. 2016-10-17.
  4. Web site: Unga Holdings Limited. Seaboard Corporation. 2016-10-16.
  5. Web site: Unga Group's deal values NAS bakery at Sh1bn. Business Daily Africa. Nation Media Group. 2016-10-17.
  6. Web site: SA bottle firm mulls setting up Kenya factory. January 25, 2015. Business Daily Africa. NMG. 2016-10-17.
  7. Web site: Company Profile – Unga Group. https://web.archive.org/web/20150507000626/http://in.reuters.com/finance/stocks/companyProfile?symbol=UNGA.NR. dead. 2015-05-07. Reuters. 2016-10-17.
  8. Web site: Company Profile – Unga Group. 2016-10-16.
  9. Web site: Unga Limited – About Us. Unga Group. 2016-10-16.
  10. Web site: Unga Farm Care (EA) Limited. 2016-10-16.
  11. Web site: Unga Millers (U) Limited. 2016-10-16.
  12. Web site: Ennsvalley Bakery. 2016-10-16.
  13. Web site: Unga Group 2015 Annual Report. 2015-06-30. Unga Group. 2016-10-16.
  14. Web site: Ndegwa family diluted in Unga's buyout of bakery. Business Daily Africa. NMG. 2016-10-17.
  15. Web site: Board of Directors. Unga Group. 2016-10-16.

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