By Henry Mukasa

PRESIDENT Yoweri Museveni has commended the Vision Group for its rapid expansion that has made it a dominant and profitable multimedia company.

â€œThe New Vision has demonstrated the versatility expected of a modern media house. Itâ€™s gratifying that the company, starting from scratch, has grown into Ugandaâ€™s leading, dominant and profitable media house.â€

The President noted that from a single daily paper, The New Vision had expanded into a multimedia house with countrywide readers, listeners and viewers.

The Vision Group has two dailies (The New Vision and Bukedde), three weekend editions (Sunday Vision, Saturday Vision, Bukedde ku Sande) and three weekly regional newspapers (Orumuri, Etop,Rupiny).

The company also publishes four magazines; Flair for Her, Premier, Bride and Groom and City Beat. Besides, it has opened up Bukedde FM, Etop Radio, Radio Rupiny, Radio West and Bukedde Television. TV West is expected to go on air in three months.

Museveniâ€™s remarks were contained in a speech read by finance minister Syda Bbumba on Saturday at the launch of a $9m (sh18b) printing press housed in a complex which cost $5m (sh10b). A modern studio for Bukedde TV was also inaugurated. Museveni praised the past company managers for laying a firm base and the current managers for their foresightedness.

The President observed that while the role of the media is to gather and disseminate information, business acumen is vital in ensuring self-sustainability. He urged the media to broadcast educative programmes, research and publish information that will help in the transformation of the country.

â€œYou are an important vehicle which can be used either to build or break a nation,â€ he said, urging journalists to have a balance of judgment in what they disseminate.

â€œThe sense of responsibility must override other pursuits in the field. Be honest, incorruptible, objective and simple and identify with your audiences,â€ he advised.

These virtues, he said, endear readers to such media houses, away from those that publish retrogressive materials.

â€œItâ€™s unfortunate that sometimes you find the media ignorant about current development programmes,â€ Museveni said.

He urged the media to respect the law and the Constitution.

Bbumba said the success of The New Vision demonstrated the success of three government investment vehicles; privatisation, issuance of shares on the stock exchange and the public-private partnership.

â€œThere was talk in the 1990s that the Government has no business being in business. When the Government was going it alone, there wasnâ€™t much success but when the Government got other partners, New Vision is ticking,â€ she remarked.

After watching a 30-minute documentary about The New Vision history, Bbumba said the genesis was difficult. â€œThe gyenvudde (trail) of New Vision has been quite long,â€ she said.

First deputy premier Eria Kategaya, former Prime Minister Kintu Musoke, privatisation minister Rukia Chekamondo and an array of advertisers and guests attended the launch at The New Vision headquarters in Industrial Area, Kampala.

Former top editors James Tumusiime, William Pike, David Sseppuuya and Els de Temmerman were heartily applauded for their contributions.

Chekamondo said it was difficult to take the decision to float The New Vision on the stock exchange and â€œdiluteâ€ the Government shares from 80% to 53%.

The initial public offer (IPO) was made in 2004, while in 2008, 27% shares were offered through the â€œrights issueâ€ to fund the new investments. â€œI congratulate you upon this achievement,â€ she remarked.

Board chairman David Ssebabi said the investments were dictated by the advertisers, who increasingly demanded colourful adverts and preferred a one-stop-centre.

Vision Groupâ€™s chief Robert Kabushenga said the companyâ€™s balance sheet value had jumped from sh13.4b in October 2006 when he took over to sh57b as at April 30, 2010.

He explained that the governing board directed him to ensure that the company remains commercially viable. He amused guests when he recounted how former board chairman, the late Brig, Noble Mayombo, summed up the order in military terms.

â€œWhen the Commander-in-Chief tells you to put a military tank on top of Mount Rwenzori, donâ€™t ask, â€˜how?â€™. Salute and do it,â€ Kabushenga quoted Mayombo as saying.

He disclosed that the Vision Group has 800 direct employees, 3,000 vendors across the country and 1,200 people in the advertising industry who live off its brands.

VIDEO: Siblings help ill father travel to see his mother

VIDEO: Siblings help ill father travel to see his mother

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