15 July 2009 – A loan of US$25 million has been provided by the International Finance Corporation (IFC) to Ugandan distribution company, Umeme. The money will be used to connect 20 000 customers per year across the East African country over the next two years.
Umeme is investing US$50 million onto upgrading equipment and providing new connections and this loan will form a contribution to this initiative.
According to Jean-Philippe Prosper, IFC director for Eastern and Southern Africa, some 100 000 customers have been connected by Umeme since 2005, and the company has significantly improved the efficiency of the power distribution system within the country.
Uganda has an electrification rate of slightly less than 8% of the 30 million population.