Executive Profile: George Inholo

MD, Uganda Clays Ltd (since August 2014)

At the meeting that announced Inholo’s appointment, it was reported that the roofing tile maker had made a half-year loss of Shs2.4 billion. It went on to announce a record loss of Shs5.2 billion for 2014 and his task was clear: restructure the company and return it to profitability.

Under his leadership, UCL has downsized staff, paid off or converted expensive loans and retrofitted its controversial second plant in Budaka to use cheaper fuel oil. Revenues have risen and operating expenses have fallen but a loan from its largest shareholder, the National Social Security Fund, is still to be cleared and – with its 15% interest – remains a drag on profitability. In 2015, Inholo’s first full year in charge, UCL registered a 76.7% reduction in net loss to Shs1.2 billion from Shs5.2 billion in 2014.

Inholo was the country manager at Unilever Uganda, Rwanda and Burundi for 15 years before his current role at UCL. He has a BA in Social Work and Social Administration from Makerere University.

Other board memberships: Uganda Health Marketing Group