Umeme technicians at work in Kampala. The company is Uganda’s sole power distributor. PHOTO | FILE The power distributor’s total sales revenues rose from Ush848.8 billion ($238.9 million) in June 2020 to Ush827.9 billion ($233 million) in June 2021 while net profit before tax increased from Ush32.2 billion ($9 million) to Ush69.6 billion ($19.6 million) […]
Expanding into Spain means Octopus is now active in 11 countries. Image: Octopus Energy. British entech company Octopus Energy has entered the Spanish market with the acquisition of green energy startup Umeme. The company is targeting attracting a million Spanish energy accounts to its brand by 2027, helping it reach its overall goal of 100 […]
KEY POINTS Umeme was the top gainer of the day on Thursday with 9.38 percent at the price of 7.00 shillings per share. The second top gainer was Stanlib Fahari Income – REIT with 3.55 percent at the price of 7.00 shillings per share. Umeme was the top gainer of the day on Thursday with […]
Irene Batebe, new Energy ministry permanent secretary. The Uganda Electricity Generation Company Limited (UEGCL) will next month take over the heavy fuel oil thermal power plant at Namanve a year after the concession of the plant’s operator expired. The thermal plant, alongside the Tororo-based Electromaxx in Tororo, provide the most expensive electricity that government buys […]
Image: Octopus Energy Group Octopus Energy has today announced it has acquired Spanish green energy startup Umeme. With this acquisition, the British company aims to enter the Spanish energy market, providing renewable electricity tariffs among other services. Launched in 2019 by four energy entrepreneurs, Umeme currently serves almost 5,000 domestic and business customers across the […]
Rapidly-growing supplier Octopus Energy has extended its tentacles into Spain, acquiring Valencia-based green startup Umeme Energía in a “multi-million” pound deal. Announcing the deal, Octopus said it would invest £60 million into Umeme in a bid to “disrupt the market and drive customer service excellence in the Spanish energy sector.” The tech unicorn will offer […]
3 days ago . 1 min Read The tour is part of her familiarisation visits of different sectors in her ministry The Minister of Energy and Mineral Development, Ruth Nankabirwa, on Tuesday, toured the Uganda Petroleum Institute Kigumba (UPIK) in Masindi district. The institute offers diploma and certificate courses in the field of petroleum management. […]
A Stanbic Bank stand at an exhibition in Kampala. The high liquidity on the bank’s stock saw its price rise by 15.2 percent to Ush23 ($0.0065) at the beginning of 2021. PHOTO| FILE Stanbic Bank Uganda maintained its position as the most-traded stock on the Uganda Securities Exchange in July, amid liquidity drought on the […]
Government is sourcing for material to connect at least 234,989 electricity applicants through the free electricity connection policy. In a press statement released at the weekend Energy and Mineral Development minister Ruth Nankabirwa, said the exercise which is currently ongoing, will be conclude before the end of the month. "Procurement of 234,989 no-pole connection material […]
A Umeme technician carries out a connection In line with Government of Uganda’s Strategy to support local content under the Buy Uganda Build Uganda policy, Umeme’s purchases for electricity poles from local farmers now stands 90,000 annually. Umeme has since 2008 been consuming electricity poles from 6 local suppliers who buy from farmers, cure them […]
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