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Tag Archives: umeme

Umeme records Shs61.2bn net profit

Overall performance was hindered by a jump in tax expenses Kampala, Uganda | ISAAC KHISA | A nearly double growth in income tax expense bullied Uganda’s electricity distributor, Umeme, to record a merely 0.3% growth in net profit to Shs 61.2bn for the past six months ending June.30. The company’s …

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Bududa power consumers protest power outages

Kampala, Uganda | THE INDEPENDENT | Power consumers in Bududa are protesting the persistent power outages. The consumers in Kuushu town council have been experiencing the power outage for the past one month, which has destabilized businesses. Dickson Natsami and Paul Mateya, who both operate shops in the area, said …

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Gov’t promises to extend Umeme concession

Kampala, Uganda | THE INDEPENDENT | Finance Minister Matia Kasaija says the government is to extend power distributor Umeme’s concession. His revelation ends the uncertainty over Umeme’s future in Uganda’s energy sector as electricity supplier. Kasaija in his 2019/20 financial year budget speech however said the concession with Umeme Limited …

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Stock market boost

More accounts opened as players suggest ways of boosting market activity Kampala, Uganda | JULIUS BUSINGE | There is good news at the Uganda Securities Exchange. The latest market report shows that the number of depository accounts being opened is on the upward trend, signaling a growing interest by the …

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UMEME dragged to court over UGX 115M debt

Kampala, Uganda | THE INDEPENDENT | Electricty distributor UMEME has been dragged to court for failing to pay more than 115 million shillings to an advertising firm. In its petition before the Commercial Division of High Court, QG Saatchi and Saatchi Limited is seeking an order for the payment of …

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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 to appeal ERA’s tough performance parameters

Kampala, Uganda | THE INDEPENDENT | Umeme says it will appeal tough performance parameters set by Electricity Regulatory Authority Umeme Limited has said it will appeal the performance parameters set by the sector regulator, Electricity Regulatory Authority-ERA. ERA set performance parameters for Umeme for the next seven years in the modification …

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ERA, Umeme at crossroads after licence modification

Kampala, Uganda | THE INDEPENDENT | The modification of the Operation License of Umeme by Electricity Regulatory Authority (ERA) has left company officials non-committal to quality and reliable electricity supply in coming years. The modified license which came into effect last Friday set new investment and performance parameters for Umeme. …

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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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