UMEME LIMITED (FMO-50199)

Countries
  • Uganda
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project 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.
Voting Date
Dec 15, 2016
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
Umeme Limited
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
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.
Bank Documents
Primary Source

Original disclosure @ FMO website

Updated in EWS Apr 9, 2018


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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
  • Netherlands Development Finance Company (FMO)
Contact Information

FMO
South Africa
+27 11 507 2500
joburg-office@fmo.nl

 

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism.