Umeme Capex II (IFC-38598)

Countries
  • Uganda
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 9, 2016
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
UMEME LTD
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Hydropower
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 28, 2018

Disclosed by Bank Sep 22, 2016

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

Umeme Ltd. is a regulated electricity distribution company in Uganda, supplying over 800,000 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. Umeme's shares floated on the Nairobi and Kampala stock exchanges; UK based Actis Infrastructure 2 LP has a significant shareholding in the company (14%).In 2009, IFC committed $25 million in debt financing to support Umeme's operations. In November 2012, IFC participated in an Initial Public Offering to support Umeme's rehabilitation and development of its network through additional connections, implementation of a new customer billing system, rolling out a customer call center and work management centers, and expansion of its environmental, health and safety management capacity. IFC also provided a $70 million debt financing to support Umeme's 2013 - 2018 capital expenditure program. The program mainly involves the upgrade and expansion of medium voltage transmission lines and substations and the introduction of pre-paid meters across its customer base. IFC is now proposing to increase its commitment to finance this capital expenditure program by an additional debt financing of $25million (the "project").

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Contact Person: Marie Nassiwa
Company Name: Umeme Limited
Address:2nd Floor Rwenzori House, Plot 1 Lumumba Avenue
Email: mailto:marie.nassiwa@umeme.co.ug
Phone: 0312360617

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

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