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Umeme drives UETCL into sh293b loss
According to the UETCL’s annual report, this loss was mainly due to the recognition of a provision for bad debt caused by sh575.5b, withheld by Umeme as it exited the sector in March last year.
Ruth Nankabirwa, the Minister of Energy and Mineral Development, whose ministry is UETCL’s majority shareholder, acknowledged the financial challenge posed by Umeme’s buyout claim to UETCL’s financial performance.
By: Benon Ojiambo, Journalists @New Vision
KAMPALA - A year after its exit from Uganda’s electricity sector, Umeme is still leaving a bitter taste in the current players’ mouths.
The Uganda Electricity Transmission Company