UMEME’s Managing Director, Selestino Babungi, who was speaking at an event in which the firm released its financial results for 2017, insisted that their running investments worth $100 (360B) must generate benefit instead of a termination

Power Utility firm Umeme, says further threats on terminating its concession by Government, will instead bring on table discussion around over $500m or approximately 1.8 Trillion shillings in compensation.

UMEME’s Managing Director, Selestino Babungi, who was speaking at an event in which the firm released its financial results for 2017, insisted that their running investments worth $100 (360B) must generate benefit instead of a termination.

He says the contentious issue of power tariffs and associated drawbacks on losses that prompted a meeting with President Yoweri Museveni on Tuesday, will be addressed through cheaper generation, transmission and distribution costs by players in the energy mix. March 29, 2018 at 12:20PM