SOURCE OF WEALTH: Manufacturing (plastics & packaging) and real estate.
ESTIMATED WEALTH: UGX120+ billion
Except for being a member of Kwagalana Group, an association of self-made billionaires in Kampala, Hajj Badru Muwanga is largely a media-shy and quiet businessman.
But behind the ‘firewall’ is a thriving businessman and entrepreneur- who among others, owns the sprawling Ntinda Shopping Complex and his flagship Luuka Plastics Limited.
Luuka Plastics Limited is one of Uganda’s largest manufacturers of packaging materials and plastics both for domestic, agricultural, industrial and several other uses. Chances are that if you live anywhere in East Africa, you have used his products or at least products wrapped in Luuka Plastics-made packaging.
The ISO 9001: 2015 certified company, makes general-purpose as well as tailor-made packaging products for industries such as foodstuffs & confectionary, fast-moving consumer goods, pharmaceutical products, personal hygiene products, agriculture, construction and much more in both the local and export markets.
An astute businessman, Hajj Muwanga has grown the company from a general trading company- Luuka General Enterprises Limited which he founded decades ago. From the first factory, in Kawempe, the company has undergone two expansions and now has two (2) other manufacturing plants, one in Namanve, Mukono District and the other, in Matugga, Wakiso District.
Luuka has installed top-end technology that incorporates, among others, high-quality laminates with a registered cold seal, hot-filled laminates, as well as all types of pouches, shrink sleeves and foils.
Netflix Strikes $82.7 Billion Deal to Take Over Warner Bros., Redefining the Global Entertainment LandscapeThe Luuka Plastics Kawempe branch, among others, manufactures polythene packaging products such as self-sealing bags, shrink film wrapping, garbage/laundry/garment bags, cordoning tape, toilet paper packaging, shopping bags, dump proof sheets, medical waste bags, courier & examination pouches and stand-up pouches. All products can be customised to client demands and branding.
The Namanve plant makes woven polypropylene and fabric packaging solutions in various forms and sizes while the Matugga factory manufactures a range of domestic and industrial plastics such as kitchenware and plastic furniture.
Thanks to these expansions, the fortunes of the business have also grown. Figures obtained by CEO East Africa Magazine, show the company has been able to grow at a compounded annual growth rate (CAGR) of 17% over the last 7 years. As a result, turnover has more than tripled from UGX53.5 billion to UGX165.1 billion. The company has also been profitable since 2015. In 2020, Luuka Plastics reported a net profit of UGX7.3 billion. This however reduced to UGX3.4 billion in 2020. The company’s asset base has also grown by nearly seven times, from UGX14.3 billion in 2015 to UGX96.6 billion in 2021.
According to sources at the company, Muwanga is mentoring his son- MUSA Mugeere to take over the running of the family business. Mr. Mugeere who is the Luuka Plastics Executive Director, holds a BA in Information Technology from Kyambogo University Kampala and is an ACCA affiliate with MAT-ABACUS Business School according to his profile on the company website. He holds over 15 years of experience in operations and production in the manufacturing/packaging sector having worked alongside his father for quite some time. He has risen from the junior ranks as a production trainee to Executive Director and has overseen the growth and expansion of the company into a national and regional brand.
