Uganda did not have the skills to negotiate these deals and the risks of rent seeking were very high, Prof. Samuel Sejjaaka writes. In the State of the Nation address of June 04, President Museveni said, “The cost of electricity is distorted by mistakes committed by some of our actors especially the mistakes of Bujagaali […]
Tag: umeme
Sasini Emerges As Top Gainer At The NSE On Tuesday
KEY POINTS Sasini was the top gainer of the day with 6.82 percent at the price of 18.00 shillings per share followed by Total Kenya with 5.60 percent at the price of 25.45 shillings per share. Stocks are a popular avenue for investment, but it’s far from the only option. Depending on your needs, income […]
Why power companies are struggling in Africa
While liberalising the power sector has advantages, it also calls for a robust institutional framework and State interventions to plug any gaps. PART 2 Having concluded in Part 1 of this two-part series that the power sector challenges are like a tangled ball of wool, we take a closer look at some of the pieces […]
Umeme Ltd: Book Closure Date 2024
Shareholders registered on the books of the Umeme Limited at close of business on 9th February 2024 will receive a dividend of UGX 24 per share on 24th February 2024.
Umeme arrests hundreds in Kampala for pinching electricity
Umeme arrests hundred in Kampala for pinching electricity (PHOTO/File) KAMPALA — A police swoop in Najjanankumbi, Nateete and Wandegeya suburbs in Kampala netted up to 368 suspected electricity thieves. Police swooped on the areas following reports that many residents in those suburbs were illegally connected to the electricity grid. It made the subsequent arrests over […]
Umeme shareholders face a 70 % dividend dip to Shs19bn
The electricity distribution company sees brighter days ahead owed to ongoing COVID-19 vaccination and the anticipated improvement in the economy Kampala, Uganda | ISAAC KHISA | Shareholders of electricity distributor, Umeme, face a 70 % drop in dividends to Shs19bn for 2020 owed to a sharp drop in net profit as a result of tough […]
Ugandan power distributor Umeme’s 2020 pretax profit plunges 69%
KAMPALA (Reuters) – Uganda’s only power distributor Umeme Limited said on Tuesday its 2020’s pretax profit plunged 69% as electricity sales plummeted due to anti-coronavirus measures including a nationwide lockdown. The utility, which is listed on the Uganda and Kenya stock exchanges, holds a monopoly 20-year power distribution concession that is due to expire in […]
Uganda: Umeme Shareholders Face a 70% Dividend Dip to Shs19 Billion
Kampala — Shareholders of electricity distributor, Umeme, face a 70 % drop in dividends to Shs19bn for 2020 owed to a sharp drop in net profit as a result of tough economic environment occasioned by coronavirus pandemic. The company’s financial statements shows that its net profit plunged by 69% from Shs139.2bn in 2019 to Shs43.1bn […]
ERA: 50,000 Km Distribution Network Supplies Power to 1.65 Million Consumers
Siti 2 hydropower plant in Bukwo District, Mbale City A powerline rises and dips as it makes its way from the surging Bukwo District countryside to Mbale city in eastern Uganda. Upstream, water gushes through Siti 2 small hydropower plant, spinning turbines and generating electric current. Electrons then flow from the plant to a substation […]
Uganda: Umeme Faces More Than U.S.$22 Million Drop in Net Profit for 2020
Shareholders of Uganda’s listed power distributor Umeme Ltd face lower dividends after the firm succumbed to more than 60 percent fall in net profit for the year ended December 31, 2020. The firm, which is listed on the Uganda Securities Exchange (USE) and cross listed on the Nairobi Securities Exchange (NSE), made a profit after […]