Government seeks UGX 4.02 trillion for UMEME takeover
The Electricity Regulatory Authority discussed Tuesday, during a public hearing, the application by Uganda Electricity Distribution Company Limited to take over the operations of Umeme, whose concession expires on March 31, 2025. To gain approval, UEDCL needs shs 4.2 trillion to finance the operational and capital costs over the first three-year period, while the total buyout is estimated at over $255 million or sh1.8 trillion. However, the money, which was not catered for in the current budget, will be borrowed from internal and external financiers.