Project detail - UMEME LIMITED

UMEME LIMITED

Status: Approved investment
Back to map

Why disclosure?

FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more

In case of questions

In case of questions, please contact us at disclosure@fmo.nl

Disclaimer

The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

Umeme Limited is Uganda’s main electricity distribution company, servicing more than 860,000 customers. Umeme is a listed on the Uganda securities exchange and cross listed on the Nairobi securities exchange.

What is our funding objective?

The funding is part of a larger already ongoing investment program, which aims at the reduction of commercial and technical losses and increased collections. Furthermore, it covers the up-grading and expansion of Umeme’s distribution network. FMO will be acting as B-Lender behind the International Finance Corporation (IFC), who is part of the World Bank Group and an existing lender to Umeme.

Why do we fund this investment?

The investment program has the intention to lead to substantial development impact. The financing will help reduce distribution losses, increase collection rates, improve operational efficiency, altogether reducing the cost of electricity. The investment in a distribution company in a Low Income Country in Africa, has a very good fit with FMO’s energy strategy.

More investments

Date Total FMO financing
12/9/2019 USD 10.00 MLN
12/15/2016 USD 7.00 MLN
Website customer/investment
http://www.umeme.co.ug
Region
Africa
Country
Uganda
Sector
Infrastructure, Manufacturing and Services
Effective date
12/15/2016
Total FMO financing
USD 13.00 MLN
Funding
FMO NV
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)
B+