Patrick Bitature (middle), the Umeme chiarman rings a bell at the USE recently. Market executives anticipate good performance as COVID-19 threat is minimized Kampala, Uganda | JULIUS BUSINGE | Trading in the second quarter of 2020 at the Uganda Securities Exchange registered a tremendous decline as Uganda’s equity markets continued to feel the impact of […]
Tag: umeme
Umeme invests Shs 56bn in Mbale city electricity network
Umeme’s under-construction switching station and plant house at Umeme’s Mbale sub-station Newly created Mbale city and surrounding areas will by end of this year have their power supply increased by more than three times, thanks to Umeme Limited’s $15.2 million (about Shs 55.7 billion) investment projects in the area. Selestino Babungi, Umeme managing director, told […]
Umeme wants review of free electricity connection policy
Rural eletricfication was halted due to lack of money to finance the project. Photo | File Commenting on financing options government could take in case of failure to acquire money, Mr Babungi said connections can be included into the tariff through, regulatory financing where the extra revenue from electricity sales from the added customers is […]
Umeme earmarks $15.2m for two power projects in Mbale district
Featured image: Stock Uganda’s power distribution company, Umeme, is investing $15.2 million into two major power projects in the Mbale district to improve power supply quality and reliability in the region. The two projects are the Siti 2 Project and the Tangshan Mbale Industrial Park Project. On completion, both projects are expected to increase the […]
Top 5 Gainers, Losers And Movers At The NSE On Wednesday
The top 5 gainers of the day at the Nairobi Securities Exchange on Wednesday were TPS Eastern Africa (Serena), Umeme, Sameer Africa, Bamburi Cement, and Nation Media Group. TPS Eastern Africa (Serena) gained 9.92 percent at the price of 14.40 shillings per share followed by Umeme with a gain of 9.88 percent at the price […]
Uganda: USE Registers Worst Performance in Years
Uganda Security Exchange (USE) has posted the worst performances in over four years with turnover grossing a 70 per cent drop. In the second quarter of 2020, turnover dropped to Shs2.25b compared to Shs25.61b in the same period last year. The drastic drop, according to a report by USE, was attributed to withdrawal of international […]
Covid-19 separates the men from boys of corporate Kenya
MyCredit Limited managing director George Mbira (left) gives a food donation to Esther Kwamboka carrying her 2 and half years old son Sam Ombonya in Kibera. [File, Standard] The coronavirus pandemic has muted activities at the Nairobi bourse, eroding the value of many erstwhile blue-chip stocks. But amid the gloom and doom, the cream of […]
Uganda: Umeme Wants Review of Free Electricity Connection Policy
Umeme has proposed a revision of the Electricity Connections Policy (ECP) to allow capable customers shoulder the full payment for connection since government ran short of funds for the policy. Speaking during a briefing organised by the power distributor at on the weekend, Mr Selestino Babungi, the Umeme managing director, said the energy sector is […]
Electricity consumption recovers
Umeme’s managing director Selestino Babungi explained during an interaction with journalists that they witnessed the company’s daily energy sales drop by close to 30% in April as compared to average daily sales recorded in March. Umeme’s managing director Selestino Babungi addressing journalists. (Photo by Benon Ojiambo) ELECTRICITY INFRASTRUCTURE Electricity consumption has been steadily recovering since […]
Umeme suspends free Electricity Connection Policy programme
Umeme Limited logo Power distribution company, Umeme Limited has suspended the Electricity Connections Policy (ECP) program due to lack of sufficient funds. The ECP was launched in 2018. Customers were required to pay only shs 20,000 for inspection and government caters for the remaining connection fees in a move aimed at connecting 300,000 customers annually […]