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UMEME releases half year results, posts dividend pay-out of Ushs20.6 billion

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Umeme employees at work

Umeme Limited has announced a Ushs12.7 dividend pay-out per ordinary share to all its shareholders for the six months ended 30 June 2018.

A top official said the total interim dividend pay-out of Ushs20.6 billion was based on the stellar performance of the company over the period of January to June 2018.

The dividend subject to deduction of withholding tax, where applicable, will be paid on or about 11 January 2019 to shareholders in the books of the company at close of business on 20 December 2018.

Commenting on the results, Umeme Managing Director, Mr. Selestino Babungi said the sector was on a steady growth after the demand by industrial consumers grew by 8.6%, up from the 7.5% registered in the same period the previous year.

“In simple terms, the sector is growing. Maximum demand grew just slightly under 600MW. The main drivers are the large industrial customers who are registering high annual growth rates of up to 13%,” Babungi explained.

He noted that the industrial demand for electricity was in line the GDP growth, which is projected to grow at 6% in the 2018/2019 financial, up from 3.9% in 2017, adding that GDP growth goes hand-in-hand with electricity demand.

Babungi pointed out that the setting up of National Cement Company and the new Hima Cement plant, the two new cement plants in Tororo and the expansion of Tororo Cement Industries, all of which were fully commissioned, boosted the industrial sales.

“Existing industrial consumers like Coca-Cola and Roofings have also boosted their production. The Buy Uganda, Build Uganda drive is helping a lot. The South Sudan and DR Congo markets have also reopened. Commercial use of electricity is fundamental. Industrial use is essential in up taking the increasing generation capacity,” he explained.

The giant utility also registered progress in the energy loss reduction targets in the six months of 2018 to 16.7% compared to 17.5% for the same period in 2017.

“We focused the half-year loss-reduction efforts on commercial losses and are in dialogue with the Electricity Regulatory Authority on specific approvals required for technical loss reduction investments,” Babungi said.

He disclosed that for these efforts, delegations from Nigeria and Mozambique, were expected to visit the utility to benchmark on how they are doing this when the regional utilities are struggling to tame their losses figures.

The company has also maintained an average collection rate of 99.2% over the last three years, while the revenue collection rate for the period under review stood at 102.8%, attributed to the rollout of prepaid metering, recoveries of past unpaid bills, timely payment by industrial customers, government agencies and provision of payment systems available 24 hours per day.

During the first half of 2018, the company added up to 82,373 customers to the grid, increasing our total customers to a record 1,207,664. The firm targets to add a total of 200,000 new customers to the grid by end of 2018.

Customers on prepaid metering increased to 76.3% of the customer base. Prepaid revenue from these customers represents 24% of the total revenue.

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Local Business

Centenary Bank rewards Kampala’s first winners in trolley bash shopping bonanza

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Mrs. Beatrice Lugalambi (4th L), General Manager Corporate Communications , and Marketing at Centenary Bank, poses for a photo with CenteChrismas Trolley Dash Shopping Bonanza winners, and Centenary Bank Staff. This was during the reward of the 1st batch of Kampala Trolley Dash winners.

Mrs. Beatrice Lugalambi (4th L), General Manager Corporate Communications and Marketing at Centenary Bank, poses for a photo with CenteChrismas Trolley Dash Shopping Bonanza winners, and Centenary Bank Staff. This was during the reward of the 1st batch of Kampala Trolley Dash winners.

By Our Reporter

Centenary Bank continues to broaden its banking services with the aim of offering Ugandans convenient banking experiences through its alternative digital banking services.

While addressing the media at the Trolley dash held at Capital Shoppers Nakawa in which four customers were announced winners, Ms. Beatrice Lugalambi, the General Manager Corporate Communications and Marketing at Centenary Bank said that, “we are pleased to be rewarding four winners from our 1st batch of Trolley Dash Shopping Bonanza winners from the Central region. The Central region constitutes the biggest percentage of our customers, and we ought to give back to them, while delivering an enjoyable digital baking experience, all for their benefit”.

“In line with our current festive season slogan at the Bank ‘Christmas has come early’, which rhymes with our promo, customers who use our alternative banking channels; CenteMobile, CenteVisa and CenteAgent to carryout transactions at least three times a week will be rewarded throughout the promo duration,” Lugalambi added.

So far, over 300 customers through the promo have won cash, Gift Hampers and Trolley Dash Shopping Bonanza’s across the country in Mbale, Arua, Fort Portal, Mbarara and Masaka. Winners of the Trolley Dash Shopping Bonanza at Capital Shoppers Nakawa include; Mr. Kayongo Daniel, Ms. Phiona Kesiime, Mr Charles Wamalia, and Ms. Esther Adeke,

The CenteChristmas promo which was launched on November 05th, 2019 will run until December 31st, 2019. To stand a chance to win, bank customers will need to use the services at least thrice a week.

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Retiring Master Brewer shows what Uganda is Made of with Nile Special Stout

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By Reporter

Nile Breweries Master Brewer Moses Musisi has done it again. After developing the great success brands Nile Special, Club and Eagle, he has now created the first Premium Ugandan Stout, a beer that he refers to as the crown on his career.

 Nile Special Stout is a stout Uganda can be proud of. It is brewed with the finest Ugandan Malts and Roasted Barley. It is brewed at the Source of the river Nile. The liquid is beautifully dark and has a truly satisfying rich taste with a long lingering but surprisingly clean after taste. A drinking experience crafted specifically for the growing appetite for richer and more rewarding beers in Uganda.Nile Breweries’ charismatic master brewer, Moses Musisi will start enjoying his well-deserved retirement in a few weeks. When discussing his retirement plans late last year he mentioned his passion for Ugandan beer and the lack of a proper Ugandan Stout. “We have local Dark lagers and there are imported stouts on the market, but I would really like to create a stout that will make Uganda proud,” Musisi said.

“We have tremendous confidence in Moses’ brewing skills; he is definition of a true craftsman, so when he expressed his wish to do something truly remarkable and create something that will be of value for the country, we quickly agreed to move ahead with the project. It is fantastic to see that after many months of crafting the liquid he got it absolutely right,” said Thomas Kamphuis, Country Director, Nile Breweries Ltd.

“In my view this is the legacy every brewer wants to leave,” he added. Nile Special Stout will be for sale to consumers from 29th November.

“As it is a black beer, launching on Black Friday is giving the launch a nice touch. We have a great consumer launch planned at Kyadondo Rugby Club where consumers can experience this great beer while we kick off the new rugby season,” Amou Majok, Nile Breweries Marketing Head said.

“As one of Uganda’s most iconic companies and the undisputed leader of the beer industry with 57.7% market share. We remain committed to brewing great-tasting, high-quality beers that have satisfied beer drinkers for generations. We are proud that 100% of our beers are made in Uganda,” she added.When asked about the ‘Hack’ she commented “In a world where attention is scarce, we needed to use a stunt that was ‘bold and strong’ to get the attention we believe this beer deserves. The campaign truly shows the power of social media and we have been blown away by how quickly it was picked up and the amount of attention it got.”

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Local Business

MTN Foundation donates Advanced Blood Storage Refrigerator to Arua Regional Blood Bank

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By Our Reporter

MTN Uganda Foundation has officially handed over a blood storage equipment to the Arua Regional Blood Bank under the Uganda Blood Transfusion Services (UBTS). This is in a bid to address the issue of blood shortage born from inadequate blood storage facilities.

The Arua Regional Blood Bank serves 3.38 million people including 815,000 from South Sudan living in the 9 districts of West Nile. However, the facility is faced with a challenge of blood storage.

To alleviate this challenge, a state-of-the-art blood refrigerator was handed over to Hon. Dr. Joyce Moriku, the State Minister for Primary Health Care in a ceremony held today at the regional blood bank in Arua district.

Even when the blood is collected, proper storage of the blood remains a challenge in many facilities. Statistics from World Health Organisation (WHO) indicate that Uganda has an annual demand of about 340,000 units of blood but falls short by over 100,000 units. Last year, only 240,000 units were collected against the country’s target of 340,000 units.

As a result, MTN Uganda committed to step in, investing UGX 347 million shillings to procure equipment that includes; an automated plasma extractor and three refrigerators. This year, the Uganda Blood Bank is aiming to collect 300,000 units of blood.

While the automated plasma extractor is stationed at the Nakasero Blood Bank, the blood storage refrigerators have been delivered to each of the three respective regional blood banks.

Arua is the third regional blood bank to receive its equipment after Mbarara and Mbale Regional blood banks which received their refrigerator early this month.

While handing over the equipment, Mr. Bryan Mbasa, the Acting Senior Manager, MTN Foundation reiterated that MTN Uganda is committed to supporting the Government of Uganda’s goal of meeting the Global Sustainable Development Goal No. 3 which aims at ensuring healthy lives and promoting well-being for all, at all ages.

“We are proud of this partnership with the Uganda Blood Transfusion Services and Ministry of Health in ensuring that Ugandans have access to enough blood and blood components across the country,” Mr. Mbasa said.

While receiving the equipment, Hon. Moriku, who was also the guest of honor thanked the MTN Foundation for working together with the government for the good of the people of Uganda.

“Thank you MTN Foundation Uganda for this equipment. It will address the blood shortage issues that arise from lack of adequate storage of donated blood to save lives,” Hon. Moriku said, “The MTN Foundation has shown its passion for maternal health. By supporting safe blood storage, more mothers will be saved since more blood will be available, thanks to this initiative.”

Dr. Isaac Atiku, the Arua Regional Blood Bank In-charge noted that the additional refrigerator from MTN will enable them store more blood than before.

“Out of the 2000 units of blood collected every month, we were only able to store 1400 units, therefore, with this state of the art blood refrigerator, we shall be able to store an extra 720 units of blood,” said Atiku.

Dr. Grace Otekat, the principle Technologist in charge of all the regional blood bank laboratories in the country noted that by supporting the facility with an additional blood bank, the MTN Foundation has saved them daily trips to Kuluva hospital every day to store and collect blood.

“Blood is a very delicate substance which without proper storage, becomes poisonous to the body. So because of our limited storage capacity, we used to store some of our blood at Kuluva hospital, a private facility about 9kms outside Arua Town. A number of times, the blood got destroyed due to these movements,” Otekat said.

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