Business and Finance
Landmark Achievement for Uganda’s Publishing Industry
Te Managing Director of New Visojn, Robert Kobushega
Uganda is not only leading its East Africa counter parts in attracting most FDI (Foreign Domestic Investments) but it also is fast becoming the technological hub of the region.
During my recent visit to Uganda I managed to visit one of Uganda’s most modern printing presses owned by New Vision Group. The $9m (sh18b) printing press in its purpose-built $5m (sh10b) factory boosts efficiency and improve delivery times of its products directly into the surrounding markets. At optimum speed, the printing press has a capacity to print 40,000 copies per hour with 64 pages of full colour in one run.
“It is first of its kind in East Africa!” revealed the Chief Executive Officer Robert Kabushenga, “as well as being the third new printing press ever imported in the history of Uganda.”
The press and television studios were built with money raised from a rights issue. Vision Group is listed on the Ugandan stock exchange with the public holding 47% of shares with the Government maintaining a 53% majority share.
Vision Group boasts of media platforms that include the flagship New Vision newspaper, four regional newspapers, four magazines and an online division.
In addition, New Vision group has five regional radio stations as well as a television station. A second television station, TV West, is set to go on air during October 2010.