Umeme to pursue $292M arbitration over concession buyout
Umeme Limited has announced its intention to initiate arbitration proceedings in London to recover outstanding sums related to its concession buyout by the Government of Uganda, despite earlier negotiations resulting in partial agreement. A substantial claim of USD 292 million remains unresolved beyond the USD 118 million already paid, bringing the total to USD 410 million—double the figure cited by the Auditor General. The Office of the Auditor General is currently auditing Umeme’s 2025 investments, which could influence the final claim amount. In the interim, Umeme has sought an extension to publish its 2024 financial results by June 12, 2025, and its counter remains suspended on the Uganda Securities Exchange.
