Revenue US$100+ million (2009) Founded 1914 Total assets 500 million USD (2012) | Website Homepage Number of employees 10,000 | |
Industry Manufacturing, tourism, information technology Key people Mayur MadhvaniGroup Managing Director Products Electricity, matches, insurance, construction, sugar, tea, communication, horticulture, software, hotels and resorts Subsidiaries Kakira Sugar Works, Madhvani International SA, Marasa Africa, East African Holdings Ltd., Umubano Hotel | ||
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. The group has investments in Uganda, Rwanda, South Sudan, Tanzania, the Middle East, India, and North America.
Contents
History
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.
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.
Muljibhai Madhvani Foundation
The Muljibhai Madhvani Foundation is a charitable trust that was established in 1962, just before Uganda gained its independence, to honor the vision of Muljibhai Madhvani (14 May 1894 – 11 July 1958). The foundation awards scholarships to deserving undergraduate and postgraduate university students 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.
Subsidiary companies
The Madhvani Group includes but is not limited to the following companies:
Prominent family members
The following are some of the prominent members of the Madhvani family: