Uganda Clays

The Managing Director of Uganda Clays Limited, Reuben Tumwebaze, has resigned, bringing to a close a nearly five-year tenure (March 2021–January 2026) defined by heavy capital investment, uneven operating results, and a return to sustained losses. Multiple sources indicate that the resignation was not entirely voluntary, but came under mounting pressure from the Board, amid growing concern over the company’s financial trajectory. Tumwebaze’s exit comes against a stark numerical backdrop. During his tenure, Uganda Clays’ total asset base expanded sharply—from UGX 62 billion in 2019 to UGX 78.7 billion by mid-2025—reflecting an aggressive investment and capacity-building programme. However, profitability peaked…