Umeme announced today that the IPO Transaction Team consisting of Stanbic Bank, African Alliance and the Umeme senior management team, would be conducting roadshows in Gulu, Lira, Masaka, Mbarara, Mbale, Jinja, Kasese and Hoima to give residents there more information on the share purchase process.

Umeme’s Henry Rugamba

“We have received numerous queries from interested buyers and investors upcountry in the one week since we announced the IPO. The objective of this IPO is to give Ugandans a chance to own part of Umeme and share in its successes now and in the future, so it made a lot of sense for us to go to the people upcountry and tell them first hand how to buy shares, and the benefits they will enjoy,” said Henry Rugamba, Umeme Head of Communications.

The IPO opened on October 15, with an offer of 622,378,000 shares, which constitutes 38.3% of the Company’s issued share capital upon listing. The IPO closes on November 7, and will target East African retail customers as well as Ugandans.

“It is important to note that Ugandans have been given first offer, and the best way to ensure that we take this opportunity is by taking it to where the people are. The roadshows are one way of doing so, and we will use other avenues as well over the next two weeks,” Rugamba said.

The upcountry roadshows are being organised by District Chambers of Commerce in conjunction with Stanbic Bank and Umeme branches upcountry.

The Umeme IPO share price is Ushs275 per share. 20% of the offer shares have been allocated to East African retail customers, 25% to qualified institutional investors in the East African Community, and 46% to international investors. Umeme employees and directors have been allocated 9% of the total offer shares.

The post Umeme in share sensitization drive first appeared on Uganda Multimedia News & Information.

The people who have been thinking that Gen. Museveni may not seek reelection as president of the republic of Uganda after the end of his term of office in 2016 should now read this.

While our informers were on a journey to Mbarara High School, they passed via a poster that read ”MZEE Museveni nomala otulekawo tujja kwekola ekintu.”

At first they were not surprised because the yellow poster was on Kaguta road- the road that heads to Rwakitura, an area where Museveni’s upcountry home is located.

But they later wondered whether there are no Runyankore expressions for such political expressions. The expressions were written in Luganda yet the language spoken in the area where the poster was pinned is not Luganda, its Runyankore/Runyakitara.

The post NRM prints Museveni’s campaign posters for 2016 first appeared on Uganda Multimedia News & Information.

Intelligence reports indicate that A4C is to spread anti government crusades in westernUgandain a bid to discredit Museveni’s government.

The A4C coordinator, Matthias Mpuuga confirms that they are preparing to storm western Uganda starting with Rwakitura and Mbararar sensitizing the masses there on the economic situation and their rights.

However we have been told by a source in government that statehouse has directed police to ensure that such rallies don’t take place in Mbarara.

The post A4C plans demonstration in Museveni’s home area first appeared on Uganda Multimedia News & Information.