The stock market continues to deliver standout opportunities for investors. Five locally listed companies posted exceptional returns that outpaced both government bonds and the National Social Security Fund (NSSF). The latest edition of the Black Diamonds Update by Crested Capital highlights counters that achieved total shareholder returns above 25% between January and September 2025. Bank of Baroda and QCIL lead the pack At the top of the list is Bank of Baroda (BOBU), which recorded a staggering 97.75% total shareholder return. This was driven by a sharp rise in its share price from UGX 22.25 at the start of the…
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Hardly two years after arriving in Uganda to take up her very first CEO role at Uganda’s largest telco, MTN Uganda, Sylvia Mulinge has emerged as Uganda’s most admired CEO, in the CEO East Africa Magazine’s inaugural 100 Leading & Most Admired CEOs In Uganda Survey. The 2-in-1 CEO East Africa Magazine’s Most Trusted and Respected Companies & The Most Admired CEOs in Uganda Survey 2024 is part of the magazine’s thought leadership agenda that seeks to create a body of knowledge on what exactly great companies and great leaders are made of, as well as recognise them. “This, we…
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Increased economic activity thus increased power demand, translating into increased customer connections combined to spur a 19.9% growth in Umeme Limited’s gross revenues for H1 2023, the energy distribution company has reported. In results published today, 21st August 2023, Umeme said during the first 6 months of 2023, it connected an additional 72,411 customers to its network, compared to 56,547 in 2022 representing a 28% growth. This increased the company’s customer base to 1.8 million. The company also said it witnessed an 8%, 9%, 9% and 11% growth in electricity sales to its domestic households, and commercial, medium industrial and…
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Umeme Limited has released its unaudited interim condensed financial results for the six months’ period ended June 2022. In the financial statement signed by the company Chairman and MD, Patrick Bitature and Selestino Babungi respectively, despite the challenging macroeconomic environment, the electricity sector was resilient and posted a 9% increase in energy demand, due to the opening of the economy since January 2022. “The economy was on course for a strong rebound at the start of the year, helped by higher domestic demand amidst the easing of pandemic-curbing restrictions,” they said. “However, the challenging global environment in the wake of…
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Electricity distributor Umeme Limited has recruited 100 new technicians and 19 Graduate Trainees drawn from different Universities and Colleges across the Country. The recruitment is in addition to the 588 contractor technicians brought on board by the company in March 2022. This brings the total head count of Umeme to 2137 directly employed and 788 contractors, making Umeme the largest employer of electrical engineers and technicians amongst others in the energy sector. Umeme’s Managing Director, Selestino Babungi says Umeme has been deliberate and focused on building local capacity to run the electricity sector by providing employment opportunities to Ugandans, especially…
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Vandalism of electricity infrastructure in Western Uganda has hit alarming levels with vandals stealing over 133 km of cable in just 12 months and causing unprecedented disruption of electricity supply. The theft, according to experts in the region now stands at 72% followed by East and Northern Uganda. Briefing security experts in Mbarara on the emerging worrying trend in the sector, Umeme’s Managing Director Selestino Babungi said in 2021 alone, the sector lost over UGX26 billion in stolen copper wires, vandalised transformers and poles amongst others. “I am requesting for your support, the security apparatus, which you have actually always…
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Power distributor Umeme connected 125,000 new customers to the grid in the 11 months to November 2021. This represents a 54% growth in new connections from 57,000 recorded in the same period in 2020. “Of the 125,000 connected customers, 53,000 were self-funded and the remaining 72,000 through the Government subsidised programme Electricity Connections Policy (ECP). However, we still have challenges financing the Electricity Connections Policy. We have about 217,000 pending connection applications, requiring a funding of UGX224 billion,” Selestino Babungi, Umeme’s Managing Director, told Reporters at the Utility’s end-of-year press briefing. He disclosed that the Company was completing capital investment…
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The LC5 Chairperson of Busia Stephen Wasike Mugeni has asked Ugandans to buy shares in Umeme to benefit from the good performance of the Utility. Wasike, while speaking at the opening of the Busia Service Centre earlier this week said Umeme’s performance over years was glowing and the locals should be part of the success by buying shares since the Company is listed on the Uganda Securities Exchange. He commended the utility for bringing their services closer to the community. “People in Busia are grateful that Umeme is now responding to their issues. This new Service Centre will address most…
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Roofings Group―the Strength of a Nation, as they love to call themselves, is Uganda’s largest steel and construction products maker and certainly one of the largest in East and Central Africa. In Uganda, the Group is made up of Roofings Limited- the Group’s seed steel factory in Lubowa on the Kampala, Entebbe Road established in 1995 as well as Roofings Polypipes, also in Lubowa, that makes construction grade PVC fittings for plumbing, drainage, and electrical installations. Roofings Rolling Mills (RRM), the third unit of the Group is a 3-unit complex that was started in 2009 with a wire galvanizing plant,…
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Power distributor, Umeme, has injected over UGX17 billion in the past three years to stabilize and create reliable power supply in Gulu City and surrounding areas, Umeme managing director told stakeholders on Wednesday. “More than UGX17 billion has been injected to improve reliability in Gulu City and the surrounding. I can feel the difference. Last time we were in Gulu, power went off more than five times, but this time around, we have not felt even a flicker more eight hours later. This is remarkable improvement,” Selestino Babungi said during the Bomah Hotel meeting in Gulu City. He noted that…
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