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Covid centre fails to run over power, food
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Deconstructing the myth of power tariffs
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Umeme shares plummet after Museveni remarks
May 9, 2021 Selestino Babungi, Umeme managing director
President Yoweri Museveni s May 1 Labour Day remarks over electricity distribution costs seem to have sent shock waves among shareholders of Umeme Limited, the main electricity distributor in Uganda.
The concern over the president’s statement emerged this week on Thursday as Umeme shareholders met for the annual general meeting in Kampala. Umeme board chairperson, Patrick Bitature while addressing the shareholders, said Museveni s remarks are already impacting the company negatively.
Bitature says, for example, the company’s shares lost their prices by half when the president first demanded to know about the concession, and that since then, the price has never recovered.
Daily Monitor
Sunday May 09 2021
Some youth prepare to leave Entebbe airport for employment in Dubai, UAE on October 22, 2019. Photo/Abubaker Lubowa
Summary
President Museveni promised a lot in
kisanja hakuna mchezo and is making even firmer promises as he prepares to swear in for another term. We attempt a quick stocktaking of his previous five terms in office. I have never seen South Koreans exporting labour. The only South Korean I have seen (exported) is (former United Nations secretary-general) Ban Ki-moon. Their country is half the size of Uganda but you don’t see them (exported). I am now for the South Korean approach” President Museveni.
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