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10 companies buy into Umeme

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Umeme workers inspect electricity facilities in Kampala recently.

Umeme workers inspect electricity facilities in Kampala recently. A number of companies and individuals have acquired a stake in the company. FILE PHOTO.  

By  ISMAIL MUSA LADU

Posted  Wednesday, May 21   2014 at  01:00

In Summary

Among the 10, NSSF remains the largest local company to have invested in Umeme.

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However, Parliament in March adopted a parliamentary Adhoc Committee report on energy, which recommended the termination of Umeme’s concession.

Mr Eddie Kwizera, the vice chairperson of the Parliamentary Committee on Natural Resources, said it would be better if this transaction had been done after the Executive [Cabinet] had pronounced itself on the Parliamentary recommendation that sought to terminate the Umeme concession.

Umeme Holdings Limited 21.03 per cent
Investec Asset Management 18.47 per cent
National Social Security Fund 14.27 per cent
Farallon Capital 7.82 per cent
Coronation Funds 3.68 per cent
Allan Gray Africa Funds 3.25 per cent
International Finance Corporation 2.78 per cent
Utilico Emerging Markets Ltd 2.48 per cent
Everest Capital 1.47 per cent
T. Rowe Towers 0.99 per cent
Others 23.75 per cent

iladu@ug.nationmedia.com

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