Uganda’s Umeme invests US$15.2mn in Mbale city electricity network

Uganda’s Umeme invests US$15.2mn in Mbale city electricity network

Umeme Limited, Uganda’s power distribution company, has invested US$15.2mn into two major power supply quality and reliability projects in the Mbale Umeme district This is in line with Uganda’s plan to develop power sector. (Image source: Ashraf Chemban/Pixabay) The two projects are the US$9.23mnSiti 2 Project and the US$5.99mn Tangshan Mbale Industrial Park Project . […]

Umeme’s net profit reduce 64% in first half of 2020

Umeme’s net profit reduce 64% in first half of 2020

Company executives are optimistic the remaining half will see a surge in power sales, profitability as government relaxes COVID-19 lockdown Kampala, Uganda | ISAAC KHISA | Uganda’s electricity distributor, Umeme, is now pinning its profit growth on the remaining six months of the reporting year following government’s move to ease Covid-19 restrictions nearly two months […]

Top shareholders buy more Umeme stake

Top shareholders buy more Umeme stake

Three international investment funds increased their stake in power distributor Umeme over a twelve-month period, according to the company’s latest annual report. Allan Gray, Utilico Emerging Markets Limited and Imara S P Reid (Pty) Ltd bought 46.1 million, 45.6m and 20.6m additional Umeme shares respectively between 2018 and 2019. This saw their shareholding increase correspondingly […]

UGANDA: Umeme to use $9 million for electricity disposal from Siti 2’s power plant

UGANDA: Umeme to use $9 million for electricity disposal from Siti 2’s power plant

OUGANDA : avec 9 M$, Umeme évacuera l’électricité de la centrale de Siti II de 16,5 MW©Suprachai Akkho/Shutterstock The Ugandan company Umeme will invest 34 billion Ugandan shillings ($9.29 million) for the discharge of electricity from the Siti II hydropower plant in the east of the country. The 16.5 MW facility was built by Elgon […]