• All Share : 47879.45
    UNCHANGED0.00%
    Top 40 : 3795.47
    UNCHANGED0.00%
    Financial 15 : 14216.55
    UNCHANGED0.00%
    Industrial 25 : 57515.62
    UNCHANGED0.00%

  • ZAR/USD : 10.9311
    UP 0.07%
    ZAR/GBP : 17.5880
    UP 0.10%
    ZAR/EUR : 13.8531
    UP 0.04%
    ZAR/JPY : 0.1011
    UP 0.10%
    ZAR/AUD : 9.6172
    UP 0.23%

  • Gold : 1130.5000
    DOWN -8.15%
    Platinum : 1887.0000
    UP 51.57%
    Silver : 17.6000
    UP 2.44%
    Palladium : 585.5000
    DOWN -24.35%
    Brent Crude Oil : 86.130
    UNCHANGED0.00%

  • All data is delayed by 15 min. Data supplied by I-Net Bridge
    Hover cursor over this ticker to pause.

Sat Oct 25 10:45:43 SAST 2014

Ugandan power firm Umeme gets $190 million for grid expansion

Reuters | 13 November, 2013 10:39
Umeme Ltd has secured a $190 million long-term loan to expand and upgrade its distribution infrastructure
Image by: Mark Wessels

Ugandan power distributor Umeme Ltd has secured a $190 million long-term loan to expand and upgrade its distribution infrastructure, it said on Wednesday.

The firm, which is partly owned by emerging markets private equity firm Actis, said the investments would help it to reduce energy losses and provide services to more customers.

It plans to cut energy losses incurred in the distribution process to an agreed regulatory target of 23 percent of energy purchased, from 26.1 percent in 2012.

The loan was jointly provided by the World Bank's International Finance Corporation (IFC), Standard Chartered Bank and Stanbic Bank, Umeme said in a statement.

Umeme's shares are listed on both the Ugandan and Kenyan bourses.

SHARE YOUR OPINION

If you have an opinion you would like to share on this article, please send us an e-mail to the Times LIVE iLIVE team. In the mean time, click here to view the Times LIVE iLIVE section.