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Gov’t turns to Absa Bank for UGX 183 billion loan to fund UEDCL’s takeover from Umeme

Paul Murungi

A photo collage of Finance Minister Matia Kasaija, Energy Minister Ruth Nankabirwa and UEDCL Managing Director. The three government officials will play a pivotal role as power distribution shifts from private to public hands.

Government, through Ministry of Finance is seeking about $ 50 million (UGX 183 billion) from Absa Bank as capital investment into the Uganda Electricity Distribution Company Limited (UEDCL) to fully…

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