World Library  
Flag as Inappropriate
Email this Article

Umeme

Article Id: WHEBN0021971285
Reproduction Date:

Title: Umeme  
Author: World Heritage Encyclopedia
Language: English
Subject: Nairobi Securities Exchange, Uganda Securities Exchange, Index of Uganda-related articles, Ibanda District
Collection:
Publisher: World Heritage Encyclopedia
Publication
Date:
 

Umeme

Umeme
Type Public Utility: USE: UMEME
Industry Energy industry
Founded 2004
Headquarters Kampala, Uganda
Key people Patrick Bitature
Chairman[1]
Charles Chapman
Managing Director[2]
Services Electricity
Revenue US$180 million (UGX:467.04 billion) (H1:2013)[3]
Employees 1,600 (2005)
Website Homepage

Umeme is an energy distribution network company in Uganda.

History

Umeme was formed in 2004 when the Government of Uganda sold Uganda Electricity Distribution Company Limited (UEDCL) to a consortium belonging to Globeleq (56%), a subsidiary of the Commonwealth Development Corporation (CDC) of the United Kingdom and Eskom (44%), the electric generating company of South Africa.[4] The transfer of assets did not take place until March 1, 2005.[5] During 2006, the consortium formed by Globeleq and Eskom was restructured and Globeleq became the sole owner of Umeme.[6] As a result of internal restructuring within CDC, Actis Capital acquired ownership of the assets previously owned by Globeleq, thereby making Umeme a 100% subsidiary of Actis Capital.[7] In May 2010, Umeme's communications director Charlotte Kemigyisha wrote an article in the Daily Monitor newspaper, calling for those convicted of electricity theft to be executed.[8] In December 2010, Umeme announced plans to invest US$32 million during 2011, in new substations, improvements in grid connectivity and the introduction of pre-payment systems.[9]

Ownership

Prior to October 2012, Umeme was wholly owned by Actis Capital, a subsidiary of the Commonwealth Development Corporation (CDC) of the United Kingdom. CDC is a UK government-owned company, based in the United Kingdom, with investment assets mainly in the emerging markets of Africa, Asia and Latin America, but with its main emphasis in sub-Saharan Africa and South Asia. It has an asset base of US$4 billion, of which approximately 8% is currently in the energy sector. Umeme is its first investment in the distribution end of the power sector but CDC is actively pursuing acquisitions seeking to increase its investments in the emerging markets.[10]

On 15 October 2012, Umeme became a listed company on the Uganda Securities Exchange (USE). A total of 622,380,000 shares, representing approximately 38% of its issued share capital, became listed on the Ugandan bourse in an Initial Public Offerring (IPO). The shares of the company are expected to start trading on the USE on 30 November 2012. The shares are expected to crosslist on the Nairobi Stock Exchange (NSE), later in 2012.[11] The company expects to use the proceeds from the IPO, estimated at about US$68 million (UGX:170 billion), to upgrade the distribution network, establish pre-paid metering and reduce energy distribution losses.[12][13]

The detailed shareholding in the stock of the company is depicted in the table below:[14]


Umeme Stock Ownership
Rank Name of Owner Percentage Ownership
1 Actis Capital of the United Kingdom 60.00
2 Institutional and Individual Investors via USE and NSE 38.00
3 UMEME Eployee Stock Ownership Plan 02.00
Total 100.00

Board of directors

The Umeme Board of Directors has six members, of whom five are non-executive. Patrick Bitature, one of the non-executive directors, serves as the Chairman of the Board.[15]

Management Structure

Umeme is structured into twelve management departments, each headed by a senior manager. The senior managers form what is called the Executive Committee, whose members are the following, as of February 2012: [16]

Umeme Management Structure
Department Name of Manager Title of Officer
Office of the Managing Director Charles Chapman Managing Director
General Manager Sam Zimbe General Manager Corporate & Regulatory Affairs
Finance Selestino Babungi Chief Financial Officer
Internal Audit Paul Mwesigwa Chief Internal Auditor
Operations management Florence Nsubuga Chief Operations Officer[17]
Corporate Development David Alderton Corporate Development Manager
Safety Phil Ball Safety Manager
Technical Office Simbiso Chimbina Chief Technical Officer
Programs Stella Ndiwalana Program Manager
Communication Henry Rugamba Chief Communications Officer
Customer Service Aidan Byrne Customer Service Consultant
Information Systems Eamon Furniss Chief Information Officer

Leadership Structure

Under the Executive Committee, Umeme has twenty-five other managers who assist the Executive to implement company policy and run the company on a daily basis.[18]

External links

  • Unaudited Financial Report 1 January 2013 To 30 June 2013
  • Umeme Receives Regulatory Approval To List On Uganda Securities Exchange
  • Umeme Website
  • Eskom Website
  • Globeleq Website
  • Uganda Electricity Regulatory Authority

See also

References

This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and USA.gov, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for USA.gov and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
 
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
 
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.
 


Copyright © World Library Foundation. All rights reserved. eBooks from Project Gutenberg are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.