Kampala, Uganda | THE INDEPENDENT | Electricity Company Umeme Ltd has posted a net profit of 41.1 Billion Shillings from its 2020 operations. This is a decline of 69% from the 139.2 Billion Shillings it recorded in the year 2019. The huge fall in the profits is largely attributed to the effects of covid 19 […]
Tag: XNAI_UMME
Umeme, Dfcu expect profits to drop due to Covid-19 disruptions
Listed companies including Umeme and dfcu Bank have cautioned shareholders and the public to exercise caution as they deal in the two companies’ stocks due to an expected drop in profits. In statements issued through the Uganda Securities Exchange, power distributor, Umeme said it expects its net profit to decline by more than 60 per […]
Shs100b lost in power theft annually – Umeme
The country loses an average of Shs100b annually on account of power theft, power distributor Umeme has said. Mr Peter Kaujju, the Umeme corporate and communications manager on Monday at Mutundwe substation, said power theft contributes to a substantial financial loss to the country. “Within a period of 12 months, we lose an average of […]
Umeme Shakes Off Challenging Year
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 capital investment programme of $75m (about sh279b) to improve the network distribution capacity, supply reliability […]
Umeme shakes off challenging year to deliver good performance
KAMPALA — 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 capital investment programme of $75m (about sh279b) to improve the network distribution capacity, supply […]
ERA Uses Carrot-And-Stick Approach To Cultivate Reliable Power Supply
Umeme says ity has invested in replacing rotten wooden electricity poles with concrete ones, starting with those in marshes in the East and North East. Paul Jagenda, 27, a software developer, prefers Working from Home (WFH) to operating in office. While huddling in the workplace comes with croissants on the house, the small talk can […]
Uganda lost Sh25 billion to vandalism, power theft in 2020
An electric poll down, after the transformer vandalized Gulu, Uganda | THE INDEPENDENT | Government through the Uganda Electricity Distribution Company Limited -UEDCL made a loss of sh25.5billion in 2019/2020 financial year due to vandalism and power theft. UEDCL operates various businesses like leasing out electricity distribution infrastructure to UMEME, electricity pole plant operations and […]
Free connection alone won’t increase access to electricity
I recently read a story in the media to the effect that the government is planning to resume the electricity connection policy (free connection policy) to connect Ugandans to the national grid. The story said the free connection policy aims at addressing the challenges of low connection rates that previous policies did not address. The […]
Umeme cautions shareholders over 60 per cent profit drop
NAIROBI, KENYA: Shareholders of Umeme have been asked to exercise caution while dealing with the shares of the company. On Monday, Umeme said its profits for the year ended December 31 2020 will decline by more than 60 per cent compared to the year ended December 31 2019. The reduction in profit is attributed to […]
Umeme faces more than $22m drop in net profit for 2020
Shareholders of Uganda’s listed power distributor Umeme Ltd ( NSE:UMME , USE:UMEM ) 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 […]