KAMPALA – Mukesh Shukla, the proprietor of Shumuk Group, has emerged victorious in a long-standing court battle over a prime plot of land in Nakawa, Kampala. Following this legal triumph, Shukla is now preparing to launch a modern car bond facility, a development expected to enhance both the company’s profile and Uganda’s car business industry.
Investment Plans for Nakawa
Shukla has announced plans to invest UGX 3 billion in the construction of a state-of-the-art Inland Car Depot (ICD) Bond. The project will be located on a newly reclaimed plot, identified as M-24/26 along Mukabya Road in Nakawa Division, which had been the subject of a bitter dispute for over 30 years.
“After over three decades of waiting, I am pleased to inform the world that we are now ready to begin meaningful development on plot M24/26, Mukabya Road in Nakawa,” Shukla expressed with enthusiasm. He added, “There is now a reason to smile. We have earmarked Sh 3 billion for this project and other related investments.”
The new facility, to be known as the “Shumuk Car Bond” and operated under “Middle North Agencies Ltd,” a subsidiary of Shumuk Group, will serve as a modern car dealership hub. The facility will sit on approximately 2.5 to 3 acres of land, capable of housing over 1,000 vehicles at any given time.
Resolving the Nakawa Land Dispute
The Nakawa land in question had been the center of a contentious legal battle involving Shumuk Group, businessman Drake Lubega, and the family of the late Haruna Semakula, who once managed the now-defunct Big Ways (U) Ltd. Shukla’s recent court victory allows him to proceed with his long-held vision of expanding Shumuk Group’s investments on this strategic property.
Shumuk’s Vision for the Car Business in Uganda
Mukesh Shukla believes that his new venture into the automotive business will revolutionize car ownership in Uganda by making cars more affordable and accessible to the average citizen. “We want every Ugandan who can manage to save at least a third of their income to afford a car,” Shukla explained. “Today, a car is no longer a luxury but a necessity.”
He elaborated that Shumuk Car Bond will offer tailored incentives to cater to various income groups, making car ownership achievable even for those with modest incomes. His goal is to simplify car acquisition, whether financial or logistical, and allow more Ugandans to drive new cars under flexible terms. “All one will need is to pay 10 percent of the value of the car and walk away with their dream vehicle, while we arrange an affordable payment plan for the remaining balance,” he added.
Shumuk is currently in partnership with banks and other financial institutions to support these car purchase plans once the bond becomes operational.
Mukesh Shukla’s Business Empire
Over the years, Mukesh Shukla has built a diversified business empire in Uganda, with the cornerstone being Shumuk Aluminium Industries, which was established in 1984. The company specializes in the production of aluminum utensils and related products, contributing significantly to Uganda’s manufacturing sector.
In addition to his aluminum business, Shukla owns several other ventures, including:
Shumuk Tours and Travel
Shumuk Forex Bureau
Emerald Hotel Ltd
Springs International Hotels Ltd
Shumuk Diaries Ltd (distributor of “Top Dairies” products in Uganda)
Shumuk Group collectively employs between 1,500 and 2,000 people both directly and indirectly, contributing approximately $20 million annually to Uganda Revenue Authority (URA) coffers.
About Mukesh Shukla
Mukesh Shukla, also known as “Shumuk,” is the CEO and founder of Shumuk Group of Companies. He is a highly regarded businessman with a focus on strategic investments. Shukla holds an MBA from Makerere University and has earned a reputation as one of the wealthiest Ugandans of Indian descent.
In 2012, he was listed among Uganda’s richest individuals of Indian origin, a status he has maintained despite numerous legal battles, including high-profile disputes with the Katatumba family and other business rivals. He is the son of the late Pradeep Shukla, a former revenue officer with Uganda Revenue Authority.
Reflecting on his business journey, Shukla shared key lessons from his experience. “The lessons I have learned over many years of doing business are to remain consistent in whatever you are doing so you can do it to your best,” he said. “Success is not about venturing into many businesses at once but excelling in one field before expanding to others. This is our winning formula.”
With the imminent opening of the Shumuk Car Bond, Mukesh Shukla continues to expand his influence in Uganda’s business landscape, offering Ugandans new opportunities for car ownership and contributing to the country’s economic growth.
