Contrary to Financial Intelligence Authority (FIA) due diligence report, Hamilton Telecom has listed its local investments worth $130 million.
Hamilton Telecom a U.S based telecommunications firm which is largely owned by a Ugandan John Mukalazi emerged as the best bidder to takeover Uganda Telecom Limited having offered $70 million.
However, the Minister of Investment Hon Evelyn Anite told cabinet meeting and President Yoweri Kaguta Museveni that Hamilton Telecom is a ‘briefcase’ company with no assets and capital but rather a conduit by UTL administrator Mr. Twebaze Bemanya to serve his interests.
Anite would later say that her choice is Mauritius Telecom which had the lowest offer of $45 million because it is genuine.
Asked to prove her allegations, Anite instructed FIA boss Mr Sydney Asubo to carry out a financial due diligence report on the contested companies.
Asubo’s findings indicated Mauritius Telecom had assets and capital to recapitalise UTL which has debts of shs 900 billion.
The report puts Hamilton on the peripheral without a profile and enough capital to run UTL despite its earlier offer of $70m.
Profile
Against that backdrop, Hamilton Telecom has listed its local investments, the profile of majority shareholders and its offshore investments.
This website has since learnt that Hamilton Telecom founded in 2016, Hamilton Telecom Ltd is privately held, 100% Ugandan owned PSP-licensed telecom operator.
It is Uganda’s first licensed Mobile Virtual Network Enabler (MVNE), with a goal to provide digital transformation in the country by utilizing modern communications solutions that bring converged communications services in the mass market.
The Chairman and majority shareholder of Hamilton Telecom, Mr. John Kamya, is a successful entrepreneur in the USA and Uganda, with a vision to: “Harness the power of cutting edge technologies and unleash brilliant minds especially of Ugandans, both at home and in the diaspora, to tackle head-on the foreign dominance of our vital telecom sector, contribute to the transformation of Ugandan society and leap-frog Uganda into the 21st digital Century”.
Local Investments in Uganda;
The Hixon (1) Group Ltd deals in real estate and has investments of over $30 million. It has so far operated four projects and two are already completed.
Hixon (11), it also deals in real estate with an investment of $20 million.
Medi Tera Group Ltd runs hospitality and has invested $45M.
CSX Group is an international employment urgency, employing 500 Ugandans and has invested $0.5m.
KT Estates Ltd deals n hospitality with an investment of $6 million.
Hamilton Engineering Ltd deals in construction, a contractor company for medium and large real estate and infrastructure projects.
Hamilton Telecom Ltd deals in telecommunications with $30 million.
Below is the summary of the offshore Investments:
1. Mac Arthur & Baker International, Inc. Management and Financial Consulting for Federal, State, International Organizations and Sovereign Govts currently Managing over $10 billion in Federal and State Financial Assets. (www.mbicfs.com)
- MBI Health Services LLC; a leading specialized healthcare services provider in the Washington DC employing over 1,500 employees. MBI Health is valued at over $150 million. (www.mbihs.com).
- MBI Logistics LLC; A specialized non-emergency medical transportation logistics firm employing over 100 staff and large fleet of medical transportation vehicles. (www.mbi-logistics.net).
- Founder and CEO at United Energy International Corp: A crude oil lifter, purchaser and resale company; grossed over $1.2B in Revenue in the past, primarily with the Nigerian National Petroleum Corporation (NNPC). (www.unitedenergyintl.com)
- Hamilton Energy International LLC a privately held Holdings company based out of USA with investment in selected businesses, in and out of USA with a total of over $100m.
Past: (a) Founder & Partner at: Gardiner, Kamya & Associates, P.C. (www.gkacpa.com) Management Consulting and Financial Services with over $5 billion in Federal, State and Foreign Govt. Programs and contracts. At height, employed over 300 Professionals in the USA and worldwide.
(b) Senior Manager at KPMG — Washington, DC. (c) Manager at Pricewaterhouse Coopers, USA.