Umeme

Ugandan council workers hang flags just outside KampalaFancy a bit of east African power? Umeme, the Ugandan power company, was successfully floated on Friday by Actis, a private equity group. So far, it’s been a hit, with the IPO oversubscribed and shares jumping 9 per cent on Monday.

But despite the investor thumbs-up, the stock is already rated by one analyst as a sell. Continue reading »