Uganda Securities Exchange stockbrokers in Kampala. The utility firm’s customer numbers increased by 14 per cent to 1.5 million users in 2019. FILE PHOTO | NMG
Uncertainty has gripped investors of listed Ugandan utility Umeme, after President Yoweri Museveni’s letter on the renewal of the power distributor’s 20-year concession.
Although Umeme still has seven years on its current concession, industry regulator Electricity Regulatory Authority (ERA) has set June for a start of renewal negotiations, raising questions about the timing of President Museveni’s letter, and its impact on investor confidence in the firm.
