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Tag Archives: Babungi

No dividends for Umeme shareholders

The electricity firm H1 profits increased by 33% to Shs64bn Kampala, Uganda | THE INDEPENDENT | Electricity distributor, Umeme, has withheld payment of an interim dividend to its shareholders despite recording a 33% growth in profit after tax to Shs64bn for the six months period ending June.30. The company executives …

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Umeme decries vandalism in Tooro Region

Fort Portal, Uganda | THE INDEPENDENT | Uganda’s main electricity distribution company Umeme has decried the rampant vandalism of power equipment in the Tooro region. The Managing Director Umeme Celestino Babungi says that the company has lost transformers, transmission cables, poles and pylons to unscrupulous people. Speaking in Fort Portal …

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Umeme’s licence renewal

BOD Chairman Patrick Bitature says negotiations to be concluded before end of year Kampala, Uganda | JULIUS BUSINGE | Patrick Bitature is a top businessman and entrepreneur in Uganda with interests in the energy, telecommunication, real estate, mining and hospitality sectors. He has earned respect by chairing boards of several …

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Umeme’s surprise profit growth

 Company expects more revenue from government’s free connection policy Kampala, Uganda | JULIUS BUSINGE | Power distributor, Umeme Limited recorded a 70% jump in profit after tax for the year ended December 2018 compared to the previous year. This came after the company settling a conflict regarding a specific clause …

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Inside Umeme’s Shs47.5bn loss

  UMEME: Company fails to win court case against ERA, writes off Shs115.3bn from its balance sheet  Kampala, Uganda | JULIUS BUSINGE | Electricity distributor, Umeme Limited, recorded a first ever loss since it listed its shares on the Uganda Securities Exchange and the Nairobi Secures Exchange five  years ago. …

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