We held our 11th Annual General Meeting yesterday where our Board of Directors headed by Permanent Secretary Ministry of Finance, Planning and Economic Development, Mr. Ramathan Ggoobi presented the Company’s Audited Financial Statements for the Year 2023/2024 to the Members/Shareholders; Ministry of Finance, Planning and Economic Development(Represented by the Minister) , Ministry of Energy and Mineral Development (Represented by the Minister), and Private Sector Foundation of Uganda. (Represented by the Chairman).

“Our strategy under the EASP is to address market barriers constraining access to clean energy at the grassroots of our communities. Price subsidies of 60% will be provided for solar lanterns; 50% for solar home systems; upto 50% for clean cooking solutions and 60% for productive uses of energy including; water pumping, irrigation, refrigeration and cooling, water heating, and grain milling. UECCC’s activities are complementary to Governments ongoing rural community engagements under the Parish Development Model,” said Board Chairman, Mr. Ramathan Ggoobi.

Managing Director, Mr. Roy Nyamutale Baguma informed the meeting of the Company’s good performance. “The Company’s Balance Sheet registered a 33% growth to 88.535 billion up from UGX 66.268 billion of the previous FY 2022/2023. In FY 2024/2025, Management and staff will continue to catalyse increased uptake of solar systems for lighting and charging, clean cooking solutions and productive uses of energy such as water pumping, irrigation, water heating, refrigeration and cooling, and grain milling. Furthermore, the Company will begin construction of the four (4) Orio mini hydro power sites under Phase 1 of the Project.”