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NWSC, BoU Named Among Most Profitable Gov’t Enterprises

National Water and Sewage Corporation has been named among the best performing government enterprises for the year 2017/2019.

According to the Auditor General for the last financial year 2017/2018, NWSC is the 3rd best performing state Corporation coming after Bank of Uganda and National Social Security Fund that came 1st and second respectively.

NWSC in the year 2017/2018 was able to make a profit of Shs 51.2b after taxes compared to Shs26.7b that it made in the previous financial year 2016/2017.

BoU made a profit of Shs424.1b compared to 95.9b made in 2016/2017 while NSSF made Shs 240.4b compared to Shs11b made in the same previous year.

The other best performing state enterprises include Pride Micro Finance, Post Bank Uganda, New Vision Printing and Publishing Company Limited, Nile Hotel International Limited, Uganda Air cargo Corporation among others.

While presenting the report to Parliament recently, the Auditor General John Muwanga noted that out of the 29 enterprises that were analyzed, 17 had made profits while the others made losses.

The worst performing Enterprises are Uganda Railway Corporation, Uganda Electricity Transmission Company Limited (UETCL), Civil Aviation Authority with losses of Shs 93bn, Shs75.5bn and Shs21bn respectively.

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