This 20MW solar power plant in Kabulasoke, Gomba District in Central Uganda is subject to a commercial dispute between Great Lakes Energy Company NV (Great Lakes), a Dutch-registered company, that invested more than USD20 million in Ms Xsabo Power Limited, the plant developer. Dr. David Alobo (inset) the Xsabo Founder & CEO/Managing Director was found by the London Court of International Arbitration (LCIA) to have fraudulently taken away Great Lakes shares in Ms Xsabo Power Limited and misappropriated company funds. Despite the LCIA findings and orders Great Lakes Energy Company NV is yet to get the local courts to enforce the arbitral awards.
East Africa is the fastest-growing economic region on the continent. In 2022, Uganda, Kenya and Tanzania attracted over USD13.3 billion worth of foreign direct investment (FDI). This is according to…
