UETCL PROFITS DROP: No dividends for shareholde
The Uganda Electricity Generation Company has reported a profit drop of Ugx 37 billion shillings in 2022, down from 112.1bn shillings recorded the previous year, as a result of a decrease in earnings from power exports in the year 2022, as exchange rate volatilities ate into the company’s earnings. This state of affairs means Government as a major shareholder will not receive dividends this time.