Umeme Capex [2019-2024]

completed

  Incorporated in 2004, Umeme Ltd (“Umeme” or the “Company”) is Uganda’s main electricity distribution company with more than 90% market share, connecting approximately1.2mln customers located in the semi-urban areas of Entebbe, Kampala and Jinja. Umeme’s power distribution network consists of approximately 20,000 km of medium and low voltage lines concentrated in the South-East of the country.  The Company operates under a 20-year concession ending in March 2025.  Umeme is an existing client with whom IFC has been engaged since 2009. IFC’s previous investments in Umeme were projects #25788, 32795, and 39096. Publicly disclosed ESRS for these projects are available at: http://www.ifc.org/ifcext/spiwebsite1.nsf/ProjectDisplay/ESRS25788,  http://www.ifc.org/ifcext/spiwebsite1.nsf/ProjectDisplay/ESRS32795 and https://disclosures.ifc.org/#/projectDetail/ESRS/38598.IFC is considering providing an additional US$30mln debt financing and mobilizing further financing as part of a debt package of up to US$70mln. This investment will aim at supporting Umeme to partially fund its 2019-2024 capital expenditures program mainly dedicated to the upgrade of low voltage substation and transmission lines and further assets replacement to improve quality of service (the “Project”).