Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Uganda
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Netherlands Development Finance Company (FMO)
Status: Active
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2016-12-15
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Umeme Limited
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Energy
Investment Amount (USD): $ 13.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

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Primary Source

Original disclosure @ FMO website
Updated in EWS: 2018-01-11
UMEME LIMITED
FMO-50199

Project Description
WHO IS OUR CLIENT Umeme Limited is Uganda's main electricity distribution company, servicing more than 860,000 customers. Umeme is a listed on the Uganda securities exchange and cross listed on the Nairobi securities exchange. FUNDING OBJECTIVE The funding is part of a larger already ongoing investment program, which aims at the reduction of commercial and technical losses and increased collections. Furthermore, it covers the up-grading and expansion of Umeme's distribution network. FMO will be acting as B-Lender behind the International Finance Corporation (IFC), who is part of the World Bank Group and an existing lender to Umeme. WHY WE FUND THIS PROJECT The investment program has the intention to lead to substantial development impact. The financing will help reduce distribution losses, increase collection rates, improve operational efficiency, altogether reducing the cost of electricity. The investment in a distribution company in a Low Income Country in Africa, has a very good fit with FMO's energy strategy.
Investment Description
Contact Information
FMO South Africa +27 11 507 2500 joburg-office@fmo.nl
Bank Documents