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Energy, Oil & Gas
Electricity prices down 1.5% in second quarter
Umeme, the power distributor, will reduce the prices of electricity by 1.5% in the second quarter of 2017, in line with a tariff adjustment by the Electricity Regulatory Authority.
April 9, 2017
Corporate earnings and results
Energy, Oil & Gas
Higher finance costs and flat earnings dim Umeme’s profit
Umeme’s net profit fell 5.8% in 2016 to Shs99.7 billion, weighed down by higher financing costs and flat earnings, the power distributor said in full year results released on Monday.
April 3, 2017
Markets
Retail sale of Umeme shares from Actis exit opens; closes 6 December
A total of 37,349,155 ordinary shares of Umeme Limited were on Friday opened to retail investors on the Uganda Securities Exchange at a discounted price of Shs488 per share.
November 19, 2016
Companies
Markets
Trading in Umeme resumes after Actis exits stake
The suspension of trading in shares of Umeme Limited (UMEM) was lifted today at the Uganda Securities Exchange following the exit of former majority stakeholder, Umeme Holdings Limited, a subsidiary of the UK-listed private equity investor Actis.
November 16, 2016
Companies
Markets
USE to lift Umeme trading suspension on Wednesday
The Uganda Securities Exchange will lift the trading suspension on Umeme Limited this Wednesday, 16 November following the sale of the power utility's shares by its former majority stockholder, Umeme Holdings Limited.
November 14, 2016
Companies
Markets
NSSF increases Umeme stake to 23% as Actis unplugs from power distributor
The National Social Security Fund will become the majority shareholder in electricity distributor Umeme (UMEM) after agreeing to buy 121.82 million shares from Umeme Holdings Limited for Shs59.4 billion.
November 7, 2016
Companies
Markets
Umeme shares suspended as stockholder considers sale
The Uganda Securities Exchange on Friday approved an application by Umeme Limited to suspend trading in the power utility's shares until its largest stockholder sells off the stake it owns in the company.
November 4, 2016
Politics & Policy
Ibrahim Index: Overall gains for Uganda, but declines in corruption and public governance
Uganda has improved in overall governance since 2006, moving up by 3.4 points. It was 19th in Africa in 2015 out of 54 nations with a score of 56.2. It's also one of 19 countries that improved in the safety and rule of law category over the last ten years.
October 3, 2016
Companies
Umeme borrows $50 million to fund grid expansion
Umeme is borrowing $50 million from the the International Finance Corporation and various banks to upgrade and expand its medium voltage transmission lines and substations, and to fund the installation of more prepaid meters across the country.
September 24, 2016
Corporate earnings and results
Markets
Umeme HY2016 profit falls to Shs54.5bn on financing costs
Umeme’s revenue grew 20.3% to Shs658.7 billion ($195.5m) in the first half of 2016 on higher power sales but net profit fell from Shs67.6bn to Shs54.5bn ($16.2m) on increased financing costs and a normalised tax rate, half-year results released today show.
September 5, 2016
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