Umeme Ltd

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Umeme Ltd. (“Umeme”, the “Company”) is a regulated electricity distribution company in Uganda, supplying over 500,000 customers mainly located in the semi-urban corridor linking Kampala, Entebbe and 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. Umeme is wholly owned by the UK based Actis Infrastructure 2 Fund (“AI2”).As at 31 December 2011, Umeme invested approximately US$ 134 million in the rehabilitation and development of its network (the “Project”), making additional connections, implementing a new customer billing system, rolling out a customer call center and work management centers, and expanding its environmental, health and safety management capacity. In 2009, IFC committed $25 m in debt financing to support Umeme’s expansion. The proposed investment involves IFC’s participation in an Initial Public Offering by Umeme to support Umeme’s capacity to raise the financings for its ambitious capex expansion program.