STIL has achieved both local and international certifications confirming the quality of their products including ISO9001:2008 certificates from Nemko and IQNET as well as UNBS certification. The company consistently features amongst the fastest growing manufacturers of steel products in Uganda and within the east African region, commanding over 15% of the local market for steel products.
The company currently employs over 1,080 staff on permanent basis up from 580 staff in 2013. The total number of employment beneficiaries is approximately over 6,000, including casual labourers as well as various beneficiaries in their value chain. The Bank has supported the company through provision of working capital facilities over the last three years.
The Bank recently provided working capital towards revamping their profiling plant in Namanve with the objectives of increasing the share and supply of locally manufactured high quality steel products in the Ugandan market; closing the technical skills gap through partnership with Kyambogo University for internship and employment opportunities and create more employment Opportunities.
As a result of revamping the profiling plant and together with the full functioning of the hot roll and cold roll mill, over 100 jobs have been created; additional tax contribution of Ushs10.95 billion has been made; foreign exchange savings of US$ 3.5 million have been made through import substitution; foreign exchange revenues of Ushs14.2 billion equivalent to 35% of total sales have been earned from re-exportation.
Their export component (accounting for 35% of their total sales) is a boost to the country’s balance of payment position.