Clay tiles manufacturer, Uganda Clays Limited has named its head of finance, Jones Muhumuza, as acting managing director, effective February 1, 2026.
The move follows the departure of Reuben B. Tumwebaze, who had led the company since February 2021. His contract expired and was not renewed.
The announcement was made through a notice to shareholders and the public, in line with Rule 36(2)(h) of the 2025 Listing Rules, and was signed by Board Chairman Eng. Martin Kasekende.
“The Board of Directors expresses sincere appreciation to Mr. Tumwebaze for his dedication and contribution during his tenure and wishes him success in his future endeavors,” the notice stated.
Muhumuza will serve in the acting capacity until a substantive managing director is appointed.
During Tumwebaze’s tenure, Uganda Clays recorded a net loss of Shs4.95 billion in 2024, up from Shs2.85 billion in 2023. Revenue showed a modest increase, rising from Shs30.4 billion in 2023 to Shs31.6 billion in 2024, reflecting steady demand for clay tiles and bricks.
However, rising operational and financing costs continued to weigh on profitability, with gross profit slipping slightly from Shs8.6 billion to Shs8.2 billion.
