FROM GRASS TO GRACE! How Shumuk Started As a Soft Commodity Seller To East Africa’s Biggest Steel Manufacturer
- July 30, 2022
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By Abdallah Almas
Shumuk Group which is one of East Africa’s biggest industrial conglomerates in steel production started as in the early 1980 as a soft commodity dealer, Wallnet news can reveal.
Started by renowned Kampala Businessman Mukesh Shukla, the beginning was not as easy as ABC… Reports say Mukesh started from selling soft commodities and later went into retail/wholesale outlets in Kampala. When he started cashing in, Shukla started a milk processing factory, a money lending firm and later went into foreign exchange business.
These business enterprises did not disappoint him because as time went on, he started manufacturing Aluminum utensils and opened a Forex Bureau. He later started his own company – Shumuk Group.
This has since grown to one of East Africa’s biggest industrial conglomerates in steel production, dairy production, and hotels.
The company is said to have over $80 million yearly revenue. The multitalented proprietor was one of the contestants in the 2021 Parliamentary race for Nakawa East constituency but also participated in elections for the chairmanship of the ruling National Resistance Movement in 2016 against Hassan Bassajjabalaba.
This has increased his popularity and created him more opportunities for his business company.