Umeme Ltd.

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Umeme Limited (“Umeme”) is a regulated electricity distribution company in Uganda, supplying over 300,000 customers mainly located in the semi-urban strip from Entebbe through Kampala to Jinja. In March 2005, Umeme was awarded a 20 year concession to manage and operate the assets of Uganda Electricity Distribution Company (UEDCL). The award of the concession was part of Uganda’s broader privatization of its power sector, which also involved the unbundling of transmission, distribution and generation, and the awarding of concessions for the operation of its existing generation assets. Uganda’s power sector privatization was fully supported by the World Bank Group, and the Umeme financing structure includes both MIGA insurance and a partial risk guarantee from IDA.To date, Umeme has invested about $44 million in rehabilitating and developing its network, making additional connections, implementing a new customer billing system, and rolling out a customer call center and work management centers. Subject to the Ugandan regulator’s approval, Umeme intends to spend a further $50 million in the next two years (the “Project”). This investment is a continuation of the existing program, covering renewal of its asset base, loss reduction, network extension, and new connections (in addition to the 93,821 Umeme has already made).