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Uganda: Parliament Approves $190 Million for Umeme Concession Buyout

Summary by allAfrica

[Independent (Kampala)] Kampala, Uganda -- In a significant move that marks the end of an era, the Ugandan Parliament has approved a $190 million buyout of Umeme Limited's concession, effectively paving the way for the government to fully control the country's electricity distribution.

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allAfrica

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Uganda: Parliament Approves $190 Million for Umeme Concession Buyout

11 days ago·South Africa

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Business Focus

Gov’t Secures Shs 700Bn Loan For Umeme Buyout As MPs Override Audit Concerns » Business Focus

Parliament has approved the government’s request to borrow $190 million (UGX 699.938 billion) from Stanbic Bank to finance the buyout of Umeme, despite recommendations from both the Auditor General and the Committee on National Economy to halt the process until the actual buyout amount is established. The decision, made during the plenary sitting on March 20, 2025, followed a heated debate over the discrepancies in the figures presented for the …

10 days ago

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The Spy

Gov’t Secures UGX 700Bn Loan For Umeme Buyout As MPs Override Audit Concerns

By Spy Uganda Parliament has approved the government’s request to borrow $190 million (UGX 699.938 billion) from Stanbic Bank to finance the buyout of Umeme, despite recommendations from both the Auditor General and the Committee on National Economy to halt the process until the actual buyout amount is established. The decision, made during the plenary…

11 days ago

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UgStandard - For Breaking news, Education, Investigations, Business & Tech and all public affairs n

APOLLO BUREGYEYA: UMEME Buyback: Why Are We Rushing to the Bankers’ Table When Ugandans Are Holding the Chequebook?

The government wants to re-acquire UMEME. Price tag: UGX 700 billion. Financing plan? A loan from a commercial bank. But wait—just days ago, Ugandans lined up to lend over UGX 1 trillion to the state in a treasury bond auction. Oversubscribed. Voluntarily So why bypass the people? Commercial bank loans are like payday advances—short-term, high-interest, and unforgiving. Treasury bonds, on the other hand, are patient capital. Long tenors. Predict…

11 days ago

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Pulse Uganda

UEDCL to end power blackouts by December 2025

With the takeover of UMEME's operations less than a week away, the Uganda Electricity Distribution Company Limited (UEDCL), has announced plans to implement lasting solutions to the persistent power blackouts in Kampala and other parts of the country. These outages, which have worsened with the onset of the rains this March, have caused considerable inconvenience, particularly in the Central Business District (CBD). Big investments in power infr…

11 days ago

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The Independent Uganda:

Parliament approves $190 million for Umeme concession buyout

However, critics have raised concerns about the government’s capacity to manage the distribution network efficiently Kampala, Uganda | THE INDEPENDENT | In a significant move that marks the end of an era, the Ugandan Parliament has approved a $190 million buyout of Umeme Limited’s concession, effectively paving the way for the government to fully control the country’s electricity distribution. The decision, which comes after months of negotiatio…

12 days ago

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