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    My View of a Disguised Coup: Celebrated Rebel Museveni Uses Slightly Amended Cabinet List to Carry Out Palace Overthrow Against Himself, Muhoozi

    My View of a Disguised Coup: Celebrated Rebel Museveni Uses Slightly Amended Cabinet List to Carry Out Palace Overthrow Against Himself, Muhoozi

    Deal: Over 50,000 Housing Units to be supplied as NWSC and NHCC Sign Water Partnership MOU

    From Streams to Screens: Here Unveiling the IT and Digital Transformation of Uganda`s National Water and Sewerage Corporation Corp

    Stealing A Glance at Balokole Polls: Pastor Kyazze Takes Early Lead as Bisiyaga Assumes the Center Stage at The Election of New Leadership Today

    Stealing A Glance at Balokole Polls: Pastor Kyazze Takes Early Lead as Bisiyaga Assumes the Center Stage at The Election of New Leadership Today

    Fake Blackmail: Let Ham Deliver Nakivubo Stadia instead of Labeling Bond Okello, Audrine Nsubuga Unpatriotic

    Fake Blackmail: Let Ham Deliver Nakivubo Stadia instead of Labeling Bond Okello, Audrine Nsubuga Unpatriotic

    Heroine! Presidency Minister Milly Babalanda Saves Kyabazinga from Physical Assault at the Canada Busoga Symposium

    Heroine! Presidency Minister Milly Babalanda Saves Kyabazinga from Physical Assault at the Canada Busoga Symposium

    All Royal: HRH Kamuswaga Concludes His Official Trip to California with Lots of Investors` Attraction to Kooki Kingdom

    All Royal: HRH Kamuswaga Concludes His Official Trip to California with Lots of Investors` Attraction to Kooki Kingdom

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    Digital Technologies Could Help Uganda’s Economy Recover Faster

    Digital Technologies Could Help Uganda’s Economy Recover Faster

    Liquid Telecom to host first cloud event of its kind in Uganda

    Liquid Telecom to host first cloud event of its kind in Uganda

    TECNO Mobile Uganda Skills Graduates Through Its Graduate Trainee Program

    TECNO mobile Uganda skills graduates through its graduate trainee program

    UNBS closes Sunshare factory over failure to comply with Standards

    UNBS closes Sunshare factory over failure to comply with Standards

    Outgoing PRAU President Cynthia Mpanga (right) hands over the key to new PRAU President Sarah Kagingo as PRAU Patron Min. Frank Tumwebaze looks on

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    From Procrastination to Graduation: The Pumpy, Yet Inspiring Academic Voyage of Robert Ssentamu Kyagulanyi, The National Unity Platform Principal

    From Procrastination to Graduation: The Pumpy, Yet Inspiring Academic Voyage of Robert Ssentamu Kyagulanyi, The National Unity Platform Principal

    Tribute to Fred Enanga: A True Friend and Leader Who`s Personality Is Marked by a Cool-headed and Respectful Approach To Even the Most Contentious Issues

    Tribute to Fred Enanga: A True Friend and Leader Who`s Personality Is Marked by a Cool-headed and Respectful Approach To Even the Most Contentious Issues

    A Shaky Comeback: Out-of-Favor Singer Ronald Mayinja Tests Fans’ Moods with a Concert Poised to End His Musical Sabbatical Come Women`s Day at Serena

    A Shaky Comeback: Out-of-Favor Singer Ronald Mayinja Tests Fans’ Moods with a Concert Poised to End His Musical Sabbatical Come Women`s Day at Serena

    All Smiles for and Of Joy: The Groundless Beauty is in Realizing that Sometimes Real Superheroes Live in the Hearts of Small Children Fighting Big Battles

    All Smiles for and Of Joy: The Groundless Beauty is in Realizing that Sometimes Real Superheroes Live in the Hearts of Small Children Fighting Big Battles

    Arsenal’s Quest for Premier League Glory: A Balancing Act of Triumph and Concern as the Two wins against Brentford and Wolves Catapults them to the EPL Summit

    Arsenal’s Quest for Premier League Glory: A Balancing Act of Triumph and Concern as the Two wins against Brentford and Wolves Catapults them to the EPL Summit

    Together for a National Cause: Tourism Minister Martin Bahinduka and Miss Uganda Beauty Queens Unite for a Charitable Safari Adventure

    Together for a National Cause: Tourism Minister Martin Bahinduka and Miss Uganda Beauty Queens Unite for a Charitable Safari Adventure

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    Here is to the Secure Water Future: Rather than Simply Reacting to Challenges, NWSC is taking a Deliberate Approach to Sustainable Management

    Here is to the Secure Water Future: Rather than Simply Reacting to Challenges, NWSC is taking a Deliberate Approach to Sustainable Management

    A Nation on Edge: Unpaid Water Bills Prompt No Mercy as Police and Prison Services Are Cut-off NWSC Taps Over UGX43.3Bn Unpaid Flow

    A Nation on Edge: Unpaid Water Bills Prompt No Mercy as Police and Prison Services Are Cut-off NWSC Taps Over UGX43.3Bn Unpaid Flow

    Tribute to Fred Enanga: A True Friend and Leader Who`s Personality Is Marked by a Cool-headed and Respectful Approach To Even the Most Contentious Issues

    Tribute to Fred Enanga: A True Friend and Leader Who`s Personality Is Marked by a Cool-headed and Respectful Approach To Even the Most Contentious Issues

    Euros 165m Grant: NWSC Secures French Agency’s Funding with Focus on Expansion of Water and Sanitation Infrastructure in Newly Designated cities

    Euros 165m Grant: NWSC Secures French Agency’s Funding with Focus on Expansion of Water and Sanitation Infrastructure in Newly Designated cities

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    UNBS closes Sunshare factory over failure to comply with Standards

    UNBS closes Sunshare factory over failure to comply with Standards

    UG Pineapple at B&W

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    To Connect the Unconnected with Innovations towards Inclusive Growth

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    Cindy Sanyu to headline Eastern Megafest

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    My View of a Disguised Coup: Celebrated Rebel Museveni Uses Slightly Amended Cabinet List to Carry Out Palace Overthrow Against Himself, Muhoozi

    My View of a Disguised Coup: Celebrated Rebel Museveni Uses Slightly Amended Cabinet List to Carry Out Palace Overthrow Against Himself, Muhoozi

    Deal: Over 50,000 Housing Units to be supplied as NWSC and NHCC Sign Water Partnership MOU

    From Streams to Screens: Here Unveiling the IT and Digital Transformation of Uganda`s National Water and Sewerage Corporation Corp

    Stealing A Glance at Balokole Polls: Pastor Kyazze Takes Early Lead as Bisiyaga Assumes the Center Stage at The Election of New Leadership Today

    Stealing A Glance at Balokole Polls: Pastor Kyazze Takes Early Lead as Bisiyaga Assumes the Center Stage at The Election of New Leadership Today

    Fake Blackmail: Let Ham Deliver Nakivubo Stadia instead of Labeling Bond Okello, Audrine Nsubuga Unpatriotic

    Fake Blackmail: Let Ham Deliver Nakivubo Stadia instead of Labeling Bond Okello, Audrine Nsubuga Unpatriotic

    Heroine! Presidency Minister Milly Babalanda Saves Kyabazinga from Physical Assault at the Canada Busoga Symposium

    Heroine! Presidency Minister Milly Babalanda Saves Kyabazinga from Physical Assault at the Canada Busoga Symposium

    All Royal: HRH Kamuswaga Concludes His Official Trip to California with Lots of Investors` Attraction to Kooki Kingdom

    All Royal: HRH Kamuswaga Concludes His Official Trip to California with Lots of Investors` Attraction to Kooki Kingdom

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Tech
    • All
    • Apps
    • Gadget
    • Mobile
    • Startup
    Digital Technologies Could Help Uganda’s Economy Recover Faster

    Digital Technologies Could Help Uganda’s Economy Recover Faster

    Liquid Telecom to host first cloud event of its kind in Uganda

    Liquid Telecom to host first cloud event of its kind in Uganda

    TECNO Mobile Uganda Skills Graduates Through Its Graduate Trainee Program

    TECNO mobile Uganda skills graduates through its graduate trainee program

    UNBS closes Sunshare factory over failure to comply with Standards

    UNBS closes Sunshare factory over failure to comply with Standards

    Outgoing PRAU President Cynthia Mpanga (right) hands over the key to new PRAU President Sarah Kagingo as PRAU Patron Min. Frank Tumwebaze looks on

    Hon. Frank Tumwebaze graces PRAU Governing Council Handover Ceremony

    UG Pineapple at B&W

    It was Blankets and Pineapple Waragi as SA’s Distruction Boys entertain Kampala

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    From Procrastination to Graduation: The Pumpy, Yet Inspiring Academic Voyage of Robert Ssentamu Kyagulanyi, The National Unity Platform Principal

    From Procrastination to Graduation: The Pumpy, Yet Inspiring Academic Voyage of Robert Ssentamu Kyagulanyi, The National Unity Platform Principal

    Tribute to Fred Enanga: A True Friend and Leader Who`s Personality Is Marked by a Cool-headed and Respectful Approach To Even the Most Contentious Issues

    Tribute to Fred Enanga: A True Friend and Leader Who`s Personality Is Marked by a Cool-headed and Respectful Approach To Even the Most Contentious Issues

    A Shaky Comeback: Out-of-Favor Singer Ronald Mayinja Tests Fans’ Moods with a Concert Poised to End His Musical Sabbatical Come Women`s Day at Serena

    A Shaky Comeback: Out-of-Favor Singer Ronald Mayinja Tests Fans’ Moods with a Concert Poised to End His Musical Sabbatical Come Women`s Day at Serena

    All Smiles for and Of Joy: The Groundless Beauty is in Realizing that Sometimes Real Superheroes Live in the Hearts of Small Children Fighting Big Battles

    All Smiles for and Of Joy: The Groundless Beauty is in Realizing that Sometimes Real Superheroes Live in the Hearts of Small Children Fighting Big Battles

    Arsenal’s Quest for Premier League Glory: A Balancing Act of Triumph and Concern as the Two wins against Brentford and Wolves Catapults them to the EPL Summit

    Arsenal’s Quest for Premier League Glory: A Balancing Act of Triumph and Concern as the Two wins against Brentford and Wolves Catapults them to the EPL Summit

    Together for a National Cause: Tourism Minister Martin Bahinduka and Miss Uganda Beauty Queens Unite for a Charitable Safari Adventure

    Together for a National Cause: Tourism Minister Martin Bahinduka and Miss Uganda Beauty Queens Unite for a Charitable Safari Adventure

  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    • Travel
    Here is to the Secure Water Future: Rather than Simply Reacting to Challenges, NWSC is taking a Deliberate Approach to Sustainable Management

    Here is to the Secure Water Future: Rather than Simply Reacting to Challenges, NWSC is taking a Deliberate Approach to Sustainable Management

    A Nation on Edge: Unpaid Water Bills Prompt No Mercy as Police and Prison Services Are Cut-off NWSC Taps Over UGX43.3Bn Unpaid Flow

    A Nation on Edge: Unpaid Water Bills Prompt No Mercy as Police and Prison Services Are Cut-off NWSC Taps Over UGX43.3Bn Unpaid Flow

    Tribute to Fred Enanga: A True Friend and Leader Who`s Personality Is Marked by a Cool-headed and Respectful Approach To Even the Most Contentious Issues

    Tribute to Fred Enanga: A True Friend and Leader Who`s Personality Is Marked by a Cool-headed and Respectful Approach To Even the Most Contentious Issues

    Euros 165m Grant: NWSC Secures French Agency’s Funding with Focus on Expansion of Water and Sanitation Infrastructure in Newly Designated cities

    Euros 165m Grant: NWSC Secures French Agency’s Funding with Focus on Expansion of Water and Sanitation Infrastructure in Newly Designated cities

    African Water & Sanitation Academy Receive Breakthrough as National Water and Partners Roll out Partner Africa- Project

    FIRED UP: G77+China and NAM Summits Lauds NWSC As ED Mugisha Calls on a Course to Professional Action Through the Utility Engineering Community

    Cecilia Barbara Atim Ogwal: The Beauty Queen, Banker, Wife, Mother, Businesswoman, Consultant, Legislator, Advocate and a Politician That Logged Out at 77 Amid G-77

    Cecilia Barbara Atim Ogwal: The Beauty Queen, Banker, Wife, Mother, Businesswoman, Consultant, Legislator, Advocate and a Politician That Logged Out at 77 Amid G-77

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    UNBS closes Sunshare factory over failure to comply with Standards

    UNBS closes Sunshare factory over failure to comply with Standards

    UG Pineapple at B&W

    It was Blankets and Pineapple Waragi as SA’s Distruction Boys entertain Kampala

    To Connect the Unconnected with Innovations towards Inclusive Growth

    To Connect the Unconnected with Innovations towards Inclusive Growth

    Cindy Sanyu

    Cindy Sanyu to headline Eastern Megafest

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Impressive AGM: Umeme Jumps out of Covid-19 Frying Pan with UGX139Bn Harvest, Sets UGX88Bn for Shareholders

May 20, 2022
inBusiness
Impressive AGM: Umeme Jumps out of Covid-19 Frying Pan with UGX139Bn Harvest, Sets UGX88Bn for Shareholders

Hit the target: MD Celestine Babungi

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Uganda’s holder of the power franchise, UMEME, made a profit amounting to UGX139Bn from the 2021 business calendar. Out of that handsome harvest, the company is set to pay a total of UGX88Bn to its shareholders. Not a bad harvest, seeing that 2021 was the year of the devastating Covid-19 which hit global economies and business like a bushfire.

The Investigator Business desk has analyzed the accounts released at the Thursday’s UMEME shareholders annual general meeting to come up with those rosier figures. Given that 2021 was a year of Covid-19, which forced many companies, including banks to withhold dividends in order to use the money to cover the wounds left by the scourge, one would not be entirely wrong to conclude that UMEME has been an exceptional case among a sea of companies that Covid-19 left limping.

But just how exactly has UMEME been able to pull off such a weighty harvest amid Covid-19 as well as a tough business environment, not to mention the dry economy as a whole? Well, the answer can be traced to the firm’s governing board and top management. The board is headed by city entrepreneur, Patrick Bitature. The fact that Bitature happens to be a board chairman to several companies and institutions of higher learning, would be the reason to attest to his business acumen. Bitature took over from departed businessman James Mulwana. 

The name Mulwana was a colossus one in the business realm, seeing that the numerous companies he started continue to flourish years after his demise. No prizes for guessing, Bitature inherited a sound board from Mulwana. It is such a board which Bitature has also credibly built on to give UMEME a very solid base,both financially and corporate wise.

The other factor in the mix is Celestine Babungi, the MD of UMEME. Such is the finesse of Babungi that he was in the past, named among the best under-40 business brains. Small wonder, UMEME would end up picking him at his relatively young age to head its management wing. With such leaders at the top and given its committed as well as motivated foot soldiers, it would not surprise anyone to learn that UMEME made inroads even amidst Covid-19 and a challenging business environment prevailing locally and abroad.

Among the milestones achieved by UMEME during the business year end, include growing its customer base to 1.6 million. This was through connecting a total of 129.551 new customers to the national grid. Out of the new customers, a total of 57,000 are self-funded. By this, we mean, they pay fully for their consumption as opposed to being subsidized by the government. In other words, these ones aren’t a straw to the tax payer.

Regrettably, the government has been holding back the funds required for purposes of connecting to the national grid, the financially less able Ugandans. A total of 211000 cases are pending on UMEME desk because government has not posted the money required to do the job.  And by holding the funds, the government continues to be guilty of condemning the poor to darkness which is used by criminals to terrorize the nation. This vice by the government is double edged. 

The delay in connecting the poor as funded by the government, has led many desperate Ugandans to resort to connecting themselves by any means. This has not only led to accidents, some even fatal, and vandalizing of power equipment, but has also denied UMEME income and by extension, denied government itself, taxes.   

UMEME’s MD told the AGM that the Yaka project has registered tremendous success. As we speak, we have managed to extend the service to 99% of our subscribers throughout the country, Babungi could not help flashing a smile as he reported this to his bosses, the shareholders.

Stated the MD assuredly, “The Yaka  System has been a game changer in sustainable  revenue collections, better customer experience, safety and reduction of costs related to the commercial cycle from meter reading, billing, bill delivery and credit management actions to collect overdue debts from the customer side”.

Overall, the MD added, the Yaka system has also helped customers to choose the power they can pay for. This has in turn, helped them to escape the curse of unplanned bills which used to be the order of the day in the gone by days.

The other revelation Babungi made is to do with the general increase in the demand of electricity countrywide from 3,201 to 3,507 in 2020 and 2021. As per losses, there was a small increase of 5 % in 2021. Before then, the losses incurred by UMEME totaled to 17.5 percent. 

2021 saw the losses increasing to 18 percent. This, Babungi reported, was due to limited field activities, a spike in illegal connections as well as the general technical losses arising out of the growing demand for power yet with reduced investments in the distribution system.

UMEME Board chairman, Patrick Bitature was all praises for the security agencies,more so the Police for arresting wrongdoers, people vandalizing as well as stealingthe company properties and those, who carry out illegal connections. He challenged fellow shareholders to join the fight to bring an end to power thefts which reduce the dividends payable to them. 

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