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Umeme lands UGX258 billion (USD70m) from IFC, Stanbic, Standard Chartered and Dutch Development Bank for investing in distribution network

by Muhereza Kyamutetera 0
LEFT-RIGHT: Umeme Chairman Patrick Bitature, Umeme Managing Director; Selestino Babungi and Stanbic Bank Uganda Managing Director, Patrick Mweheire announce the deal on December 12th 2019 in Kampala
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Uganda’s electricity distributor, Umeme Limited has secured a USD70m (UGX258 billion) funding to support its planned investments in the electricity distribution network. The International Finance Corporation (IFC) was the lead-arranger in the syndicate including Stanbic Bank Uganda Limited, Standard Chartered Bank and the Dutch Development Bank (FMO). According to an earlier notice by IFC

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About the Author

Muhereza Kyamutetera is the Executive Editor of CEO East Africa Magazine. I am a travel enthusiast and the Experiences & Destinations Marketing Manager at EDXTravel. Extremely Ugandaholic. Ask me about #1000Reasons2ExploreUganda and how to Take Your Place In The African Sun.

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