Uganda Premier League side KCCA FC plans to list its shares on the Stock Exchange in a bid to have more potential investors.
The developments were revealed by Kampala City Lord Mayor Erias Lukwago.
KCCA FC is 100% owned by the Kampala Capital City Authority and the move will see a certain percentage owned by fans.
Lukwago said that the Authority is still reviewing the number of shares to remain with, and the remaining that will be floated.
In 2006, their were initial plans for KCCA FC to float 40% of their shares, a development that never reached fruition.
“We have the component on restructuring our club – The Corporate Status, and very soon we are going to unveil it whereby we shall float some shares,” Lord Mayor Erias Lukwago said.
“We are still looking at a percentage (of shares) we are going to float. Right now, the club is fully owned by KCCA, but we want to have enterprising individuals to have a stake in the club.
“We are fast tracking the process and we would like many potential investors coming on board. We want people who love Soccer, we want to boost our capital base and this is the journey we want to take.”
Lukwago believes that the move will strengthen the club as the decision will open more doors to potential sponsorship.
Telecommunication Company MTN Uganda, who is also a partner of KCCA FC, announced intentions to float 20% of their shares on the Uganda Stock Exchange last month.
It is believed that KCCA FC’s move seeks to take advantage of a post-pandemic global business recovery.
The club, founded on 12 April 1963 by the late Samuel Wamala who was head of the Council’s Sewage Works section in the City Engineering Department, has won 13 UPL titles, 10 Uganda Cups, two CECAFA Club Cups and also reached the CAF Champions League group stages.
