Uganda Securities Exchange suspends UMEME after handover UEDCL
The Uganda Securities Exchange (USE) has suspended UMEME following the expiry of electricity distribution concession agreement and subsequent handover to Uganda Electricity Distribution Company Limited (UEDCL). Yesterday, government paid US$118 million (Shs 432.677 billion) to UMEME following the expiry of concession agreement. “USE hereby informs all investors and the general public that
Gov’t Officials Plotted to Overpay Shs 267.6 billion in UMEME Buyout
The Ugandan government was set to lose Shs 267.6 billion in the UMEME buyout, Daily Star has learned. This revelation emerged during the handover of the Auditor General’s report on the transaction. According to the report, the US$190,988,556 (Shs 700.218 billion) loan secured from Stanbic Bank for the UMEME buyout
