Mabira Forest’s Beauty Wooed Me to Invest in Uganda – Modern Group Billionaire, Ashish Monpara
Ashish Monpara, the owner of Modern Group, who invested in Uganda due to its economic and political stability and its natural beauty. His company has established 10 factories in Uganda, employing thousands of locals and receiving numerous quality awards.
Ashish Monpara, the proprietor of Modern Group, which possesses 10 factories in Uganda, including Modern Tiles in Njeru, Buikwe district, has articulated his perspective regarding the circumstances in which he invested his capital in Uganda.
The factory presently boasts a production capacity of 49,000 square meters of tiles per day, with a planned expansion to achieve a full capacity of 150,000 square meters per day.
Mr. Monpara, who addressed the Uganda-UAE Summit in Kampala on Wednesday 11th October 2023, expressed that he was enticed by Uganda’s natural beauty as he was chauffeured to Jinja.
Uganda, celebrated as one of the most picturesque countries globally, offers breathtaking scenery, delectable local cuisine, a vibrant culture, temperate weather, and welcoming locals.
Ashish further conveyed that his independent research affirmed that Uganda is the most economically, politically, and socially stable market with substantial potential.
Below is his comprehensive speech:
“From a vantage point in India and the UAE, we initiated research to identify impactful investment opportunities in Africa since 2010. Our data and analytics team conclusively determined that Uganda presented the most promising economic, political, and social stability with immense potential.
We subsequently chose Uganda as the linchpin of our investments.
My arrival in Uganda occurred in late 2015, marking my first visit to Africa. The beauty of the land both awed and intimidated me, as I had never set foot on this continent, amidst the heart of a lush rainforest.
While my father and I drove through Mabira forest en route to Jinja, I inquired, ‘Where are we headed?’ We emerged from this pristine forest into the embrace of breathtaking landscapes, the serene flow of the Nile River, and the warmth of Jinja City.
I experienced a sensation akin to the winds of peace and serenity. I told my father, ‘I adore this place. I wish to build my life and vision from the ground up in this remarkably captivating location.’
Thus, the story of Modern Group’s inception on Ugandan soil began, laying the foundation for our first facility, Modern Distillers Ltd, in December 2015.
Since then, we have established ten industrial verticals, with a total investment exceeding $200 million and import substitution value of $100 million. These verticals encompass:
Modern Distillers (commenced production in 2017)
Modern Gas (2018)
Modern Aluminium (2019)
Modern Organic Fertilizer (2019)
Modern Sanitizer (2020)
Modern Tiles (2020)
Kidera Sugar (2021)
Lamborghini Drinks & Beverages (Modern Spirits) (2022)
Acquisition of Kaliro Sugar (2023)
Modern Power (2023)
In our relentless pursuit of growth, we have never wavered in delivering high-quality products. This commitment is evidenced by the accolades we have received, including the Consumer’s Choice Awards in Gold and Platinum for Tiles in 2022 and 2023, respectively. We also earned the Platinum distinction for East Africa Brand Quality Award for Aluminium and Tiles in 2022, along with the Manufacturing Excellence Award for our Tiles Plant from the Ministry of Trade, Industry, and Cooperatives, The Republic of Uganda, in 2022.
Most notably, we received the prestigious Best FDI Award for our Tiles Plant at the Global Investment Awards held in the UAE in April 2023, standing out among 170 participating countries. This marks Uganda’s first receipt of this coveted award in 12 years of its history.
As a group, we employ over 2,000 local youth directly and impact approximately 20,000 individuals indirectly. Our contributions extend beyond improving their livelihoods; we also bolster the government’s revenue.
Our aspiration is to supply our products to both domestic and international markets, thereby not only earning foreign exchange revenue for the country but also enhancing Uganda’s brand image in cross-border nations.
Regarding our future plans:
We are deepening our investments in refined and industrial sugar, with a $50 million investment in Buyende district already underway.
We are also in the preliminary stages of investing $200 million to establish an iron ore steel plant in Muko. Our iron ore samples taken to Austria yielded impeccable results.
Our group is actively exploring the establishment of a pharmaceutical vaccine plant, with a budget of $100 million.
Modern Group proudly holds the distinction of being the first group in the world to enter a production agreement with Lamborghini, a global conglomerate valued at 280 million Euros. We will manufacture Lamborghini products here in Uganda and export them to the US and Asian markets.
I extend my heartfelt gratitude to His Excellency Gen. Yoweri Kaguta Museveni for his visionary leadership, which continues to create a conducive environment for investments.
I also wish to express my appreciation to Hon. Minister Evelyn Anite for her unwavering support, as well as the leadership of the Uganda Investment Authority for facilitating our investments.”