The Ugandan government is seeking a Sh24.7 billion ($190.9 million/UGX 697.8 billion) loan from Stanbic Bank to partially finance the buyout of Umeme investors as the firm’s 20-year concession as the main electricity distributor in the country runs out.
Uganda’s Finance Minister Henry Musasizi submitted the loan request to Parliament last week, with the proposal being subsequently placed under the consideration of the National Economy Committee for approval.
