OUT GOING BOARD OF DIRECTORS

 

Dr. Jackson Odimbe Were

Dr. Jackson Odimbe Were , Eng. Dr. Anania Mbabazi & Mr. George Mayanja Byekwaso

Ms. Dorothy Telopecho Batuli, Mr. Saleh Ahmed Suwed & Ms. Rosette Kebba Lubwama

Mr. Winston Sibo , Mr. Paul Odoi & MD UPL Mr. James Arinaitwe

As Chairman of the Board of Directors of Uganda Post Limited (trading as Posta Uganda), I am happy to present the company’s Annual Report for the financial year 2015/16, and to invite all stakeholders to read it. I am pleased to announce that this is the third Annual General Meeting (AGM) which we are holding on 12th April 2017.
The first AGM was held on 28th July 2015, while the second one was held last year on 28   April 2016. All the financial statements of the company in these three occasions have unqualified approval of the Auditor General, which is a testimony of the extent of efforts undertaken to make Posta Uganda a first rate government entity.
On behalf of the Board of Directors I wish to thank all stakeholders who have stood with us throughout all the trying times. Posta Uganda has indeed made very big strides in the right direction since I joined the Board as Chairman in 2010 and it is now one of the top rated parastatals in the country after rising from near death at the time I joined to full life as we make this report.
Posta Uganda was a non- profit making company back then, but at the end of the financial year 2015/2016, it made a profit of over one billion.
It is my firm belief, therefore, that this turnaround was a result of the restructuring of the company done in 2011 which led to the Company retaining a small number of qualified staff and establishment of strict internal controls of systems and procedures.
The Company is now embarking on property development and is in the process of entering Private Public Partnerships (PPPs) to develop its wide asset base of properties.
The Board has observed the internal controls of corporate governance and there are four Board committees which are rotated annually and the last rotation was done in December 2016.
The Board has also established a select committee for property development to push forward its PPPs drive.
In December 2015, a team of Directors visited the
Huduma Project in Kenya which is a one stop centre for postal services which Posta wants to emulate. The team produced a report which was sent to the then Minister of Information and Communication Technology.
However, the Board faced the major challenge of the Minister having not fully paid up his share capital, leaving unpaid balance of Ugx5.5bn.
Despite the challenges, during the financial year the company’s profit from operations was over Ugx1 bn a growth of over 52% in operating profit. Profit from operations was Ugx161.3m in FY2013/14, and Ugx528.3 in FY 2014/15. This growth is attributed to good planning as well as careful application of the scarce resources of the company. However, we are still faced with the challenge of the general macro-economic business environment, and the rapidly declining demand of traditional postal products.
In order to further strengthen the Company, last year (2016) the Board instituted a Job Evaluation exercise which was done by a Consultant and as a result, the Company is in the process of staff restructure to optimize efficiency and profitability, the process is expected to be concluded in a period of six months ending June 2017. The essence of the restructuring is to have a leaner more efficient and effective staff having removed redundant jobs and aligned job descriptions in a logical and more efficient way.
Posta Uganda has proposed to address the declining demand of its products, and also design strategies to rump up performance in future. Most of the initiatives shall be presented and discussed during the AGM.
It makes me very proud to see that Posta Uganda has steadily grown from strength to strength, and with the support of the stakeholders, am positive that the sky will be the limit.
God Bless Posta Uganda and Uganda as we celebrate our third AGM on 11th April 2017.
 
  Dr. Jackson Odimbe Were

Contact Info

Plot 35, Kampala Road Kampala

P.O Box 7106, Kampala, Uganda

Tel: 256-414-255511 - 5,

256-414-340915 - 9

Fax: 256-414-346450

Email: upl@ugapost.co.ug (link sends e-mail)

 

Working Hours

Monday - Friday 8:00a.m - 6:00p.m

Saturday 9:00a.m - 2:00p.m

Sunday: Closed

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