Overview:
He replaces long-serving board chairperson Elly Karuhanga, who had held the position since 2013.
Henry Rugamba has been appointed the Board Chairperson of British American Tobacco (BAT) Uganda.
He replaces long-serving board chairperson Elly Karuhanga, who had held the position since 2013 and now opted to retire.
Rugamba’s appointment was announced at the company’s 24th Annual General Meeting held at Sheraton Kampala Hotel.
Rugamba started his career at BT Group plc in the UK and subsequently held key positions at British American Tobacco and Umeme Limited. He joined the BAT Uganda board as a director in 2022.
The outgoing Board Chairperson, Dr Karuhanga, expressed pride in the achievements made over time to solidify the company’s position as a resilient and progressive business entity.
He appealed to the government to increase efforts to combat illicit trade, especially in cigarettes, which results in a revenue loss of Shs 30 billion annually.
“ Working closely with the private sector, I am optimistic that this challenge can be dealt with sustainably. Further, I congratulate Henry on his appointment, and wish him, together with the entire Board, every success as they steer the affairs of the Company forward,” Karuhanga said.
At the same meeting, shareholders also approved UGX8.9 billion (UGX181 per ordinary share) as a first and final dividend for the year ended 31st December 2023.
The dividend, which is in line with the company’s 100% dividend pay-out policy, will be paid net of withholding tax on 30th July 2024 to shareholders whose names appear on the Company’s share register at the close of business on 26th July 2024
BAT Uganda Managing Director Mathu Kiunjuri affirmed that the company’s business fundamentals remain solid amidst a challenging operating environment.
“BAT Uganda welcomes the opportunity for an enhanced approach to addressing these challenges (of illicit cigarettes), focused on leveraging partnerships for the effective enforcement of anti-illicit trade policies and regulations,” he said.
BAT Uganda is a member of the BAT Group, a leading multi-category consumer goods business with brands sold in more than 180 markets. BAT began operations in Uganda in 1928 and has been listed on the Uganda Securities Exchange (USE) since 2000. Approximately 1,200 of BAT Uganda’s shareholders are East Africa