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Energy Ministry Permanent Secretary Irene Batebe has confirmed that the Auditor General’s report on Umeme’s buyout amount will be released next week, just a few days to the expiry of the power distributor’s 20-year concession. “Please note that Umeme is a going concern and till the last day of the concession, they [Umeme] could make an intervention on the network. The Auditor General is largely done but must factor all this in the final report expected by 28th, March,” Batebe told the CEO East Africa Magazine. According to the Investopedia website, the term ‘going concern’ in accounting refers to a…
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Mr. Jimmy Douglas Mugerwa and Dr. Aminah Zawedde have been reappointed to the dfcu Limited Board of Directors after being seconded by shareholders at the Annual General Meeting that was held last week at Hotel Africana in Kampala. Mr Mugerwa will serve as Chairman of the Board of Directors while Dr Zawedde will serve as a Non- Executive Director on the dfcu Limited Board, the holding company of dfcu Bank. The two were bound to retire from the Board but offered themselves for re- election. Mugerwa is the founder and Chief Exective Officer of Zoramu Consulting Group Ltd, a senior…
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