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Tag Archives: umeme

Umeme profits fall by 64% in first six months of 2020

Kampala, Uganda |  THE INDEPENDENT | Power distributor Umeme saw its after-tax-profits fall by 64 per cent with the revenues affected by low demand for electricity and payments during the coronavirus lockdown. Umeme said in its half-year financials published today that the company’s profits had dropped to 22 billion Shillings in …

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Fourth nationwide blackout in five months!

Kampala, Uganda | THE INDEPENDENT | Uganda on Thursday suffered a fourth nationwide blackout in five months, raising concerns about the state of the sector. According to energy experts, the insistent nationwide blackouts raise questions on the stability of the country’s power supply and but also on whether the technical …

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Umeme, Stanbic dominate trading at USE in Q2

Market executives anticipate good performance as COVID-19 threat is minimized Kampala, Uganda | JULIUS BUSINGE | Trading in the second quarter of 2020 at the Uganda Securities Exchange registered a tremendous decline as  Uganda’s  equity  markets  continued  to  feel  the  impact  of  COVID-19  pandemic, according to the quarterly bulletin for …

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Relatives of electrocuted man pitch camp at Umeme offices

Kampala, Uganda | THE INDEPENDENT | Relatives of one of the two men who were electrocuted in Mukono town this week while working on a transformer have pitched camp at the Umeme offices demanding for justice. Moses Kasiita was working together with Jacob Mutalaga on a transformer in Wantoni trading …

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Two Umeme workers electrocuted to death in Mukono

Mukono, Uganda | THE INDEPENDENT | Two workers of Umeme limited have been electrocuted while on duty at Wantoni trading centre in Mukono town. The two identified as Moses Kasiita and Jacob Mutalaga were repairing power lines in the trading centre. One of the eyewitnesses, Faizal Kigenyi says the workers had …

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Lockdown caused drop in power consumption

Kampala, Uganda | THE INDEPENDENT | Uganda saw a dramatic fall in the consumption of electricity in the last two months with officials saying this impacted on the amount of money collected to pay for such activities as generation and transmission. Robert Kasande, the permanent secretary of Ministry of Energy …

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Umeme records Shs139bn net profit

Performance is attributed to increase in electricity demand, cost reduction Kampala, Uganda | JULIUS BUSINGE | Shareholders of power distributor, Umeme Limited will not go home with nothing in their Annual General Meeting slated later in the year as the company recorded a slight increase in net profit from Shs132bn …

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Bad start for Uganda’s stock market

Executives hope that the future is bright as listed entities post profits Kampala, Uganda | JULIUS BUSINGE | Companies trading on the Uganda Securities Exchange have opened the New Year with poor performance. Umeme, Quality Chemical Industries Limited (CQCIL) shares have fallen below the Initial Public Offering (IPO) price. This …

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