Defence, energy and transport sectors ate big while allocations to fiscal stimulus programmes and settlement of domestic arrears received "humble pie" in Uganda’s budget blue print for financial year 2021/22 in an attempt to steer economic recovery through additional investments in ongoing infrastructure projects. The works and transport sector was allocated Ush5.1 trillion ($1.4 billion) […]

The telecom sector’s contribution to the tax revenue hit Shs1.1 trillion, up from Shs131b in 2016 as of December 2020, according to Ministry of ICT and National Guidance. In November last year, President Museveni named telecom company MTN as the highest taxpayer with expected annual returns of Shs701b, followed by Airtel with Shs500b. Ms Judith […]

Umeme has told shareholders that it is engaging government on early concession renewal amid growing pronouncements from public figures, among them President Museveni and rising concern from shareholders and funders. Speaking during the annual general meeting, Mr Patrick Bitature, the Umeme chairman, told shareholders that the tone of the negotiations for renewal of the concession […]

On Friday April 9, Daily Monitor reported that power distributor Umeme lost Shs98b to power theft in Jinja Sub-region between January and March and that such loss is greatly attributed to the outdated Electricity Act 1999. As much as the Judiciary created a Utilities, Standards and Wildlife Court to prosecute culprits involved in stealing of […]

Umeme Managing Director Mr Selestino Babungi speaks to media during the annual results press briefing Leading power distributor Umeme navigated a challenging year to register profit for its shareholders amidst a tough COVID19 operating environment and the regulatory lag in recovery of outstanding income. Although the profits declined, the giant utility managed to complete its […]

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 […]

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 […]

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 […]