Kampala, Uganda – The Ministry of Finance in Uganda has announced plans to borrow USD 190,988,556 (approximately UGX 697.8 billion) from Stanbic Bank.
Thank you for reading this post, don't forget to subscribe!The loan aims to facilitate the government’s buyout of Umeme Limited, the country’s main electricity distribution company.
This move is part of the government’s efforts to reacquire Umeme’s shares and regain control over the electricity distribution sector. The proposed loan from Stanbic Bank will cover the costs associated with the buyout.
The development has sparked interest among industry observers, who are watching to see how the buyout will impact Uganda’s energy sector.
The government’s decision to borrow funds from Stanbic Bank is seen as a strategic move to finance the acquisition and potentially improve the country’s energy infrastructure.
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