You are currently viewing our desktop site, do you want to visit our Mobile web app instead?

One in five cigarettes in Uganda may be counterfeit

This comes as illicit cigarette trading soars.
Image: Suzanne Plunkett, Bloomberg

About one in five cigarettes smoked in Uganda is counterfeit, according to British American Tobacco’s local unit.

The trade in illicit cigarettes has soared since about a decade ago, when only one in 10 cigarettes were counterfeit, Managing Director Mathu Kiunjuri said in the capital, Kampala. That has “robbed” the government of at least 30 billion shillings ($8.2 million) of revenue annually.

Some of the cigarettes are marked made in South Sudan, Kenya or Uganda, while many do not show origins, he said.

BAT Uganda expects a fifth consecutive year of profit growth in 2020 after it exited leaf growing in 2014, he said. Net income climbed 14% to 15.7 billion shillings in 2019, driven by a “revamped portfolio and distribution efficiencies,” he said. The company announced a 320-shilling dividend per share.

© 2020 Bloomberg L.P.

Get access to Moneyweb's financial intelligence and support quality journalism for only
R63/month or R630/year.
Sign up here, cancel at any time.

COMMENTS   0

You must be signed in to comment.

SIGN IN SIGN UP

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR

Podcasts

NEWSLETTERS WEB APP SHOP PORTFOLIO TOOL TRENDING CPD HUB

Follow us:

Search Articles:Advanced Search
Click a Company: