Umeme shareholders demand greater say
An Umeme official disconnecting heavy duty wires from the mains. PHOTO BY YUSUF MUZIRANSA
What you need to know:
Reason. This will enable them discuss their grievances.
Umeme shareholders want a slot on the board of directors, in a quest to safeguard their interests.
The demand was made by a shareholder in a Tuesday meeting held in Kampala.
The new Umeme investors who attended the meeting to discuss how they would help the power supplier improve, agreed with the board member proposal.
Umeme’s managing director Charles Chapman, also agreed that the shareholders will be consulted and their input considered when it is time to fill the position left by Mulwana.
Economist Lawrence Bategeka, said shareholders have the powers to not only influence the appointment of whoever chairs the board but should also be in charge of the board.”
However, Mr Arthur Nsiko, of the African Alliance thinks differently. He told the Daily Monitor that the board is already comprised of members who have shares and will safeguard the shareholder’s interests.
