Tag UEDCL

Uganda’s Power Grid Sees Extensive Growth as UEDCL Adds Over 640,000 New Connections in Six Months

In a significant display of progress since taking over from the private concessionaire Umeme Uganda Limited, the Uganda Electricity Distribution Company Limited (UEDCL) has added a remarkable 648,404 new connections to the national grid in just six months. This achievement,…

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Umeme Records Massive Shs156 Billion Loss Amid Concession End and Backlash from Ministry of Energy

The unaudited interim financial results released by the Capital Markets Authority (CMA), as presented by the company’s directors, led by Selestino Babungi, the Managing Director, paint a picture of an entity in transition, grappling with the operational re-transfer of its electricity…

Read MoreUmeme Records Massive Shs156 Billion Loss Amid Concession End and Backlash from Ministry of Energy

Eng. Matsiko Appointed UETCL Acting Chief Executive Officer, Takes Over Mantle from Karamagi

The Uganda Electricity Transmission Company Limited (UETCL) is set for enhanced operational stability and strategic continuity following the appointment of Eng. Richard Matsiko as Acting Chief Executive Officer. Rising from his previous role as Deputy CEO, Eng. Matsiko’s immediate assumption…

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Umeme Rejects Shs432 Bn, Demands More Money from Gov’t As Future of Shareholders Remains Uncertain

A heated dispute has emerged between Umeme Limited and the Ugandan government over the buyout amount following the expiry of Umeme’s 20-year concession in power distribution. The government, through a loan from Stanbic Bank, offered Umeme USD118 million, approximately Shs432…

Read MoreUmeme Rejects Shs432 Bn, Demands More Money from Gov’t As Future of Shareholders Remains Uncertain