Electricity distribution company has cut the costs of connecting power from one the distributer from Shs720, 000 to Shs470, 000 from effective tomorrow.
“Electricity connection applicants have an option of paying full Shs470, 000 upfront or a maximum of Shs200, 000 upfront and accessing a credit facility of a maximum of Shs270, 000 availed under the DDB (Uganda Development Bank) financing scheme. The UDB credit facility at zero interest rate, is recoverable from customer at a minimum of 15 per cent of every electricity purchase over a period of up to eight years with an option of early payment,” a Umeme statement read in part. This comes at a time government has confirmed to the electrify authority that they will not be renewing their concession when it expires in 2025.
Reports indicate that Umeme’s investment and turnover have grown over the years since its entrance into the market in 2005.