By Our Reporter
NATIONAL
UMEME Ug Ltd has posted a Public Notice dated 26th March, 2025 in which the company claims that its buyout amount is 234 Million US Dollars.
In the same notice, Umeme says it will only Retransfer the Distribution system to UECDL upon full payment of the buyout amount.
However, the Energy Minister, Ruth Nankabirwa says government acknowledges the buyout amount to be 118 Million US Dollars as audited by the Auditor General.
“We as Government are in receipt of this from @UmemeLtd. As @GovUganda we shall ONLY execute what the Auditor General has audited with which is $118M as the buyout amount for UMEME and we expect by 1st April @UmemeLtd to have handed over to @UEDCLTD! @UmemeLtd is free to Petition!” wrote Nankabirwa on her X-Handle today, Thursday, March, 2025.
Umeme is also threatening penal charges against government if the total buyout amount is not paid by 31st March, 2025.
“If the payment is not received by this deadline (31st March), penal interest will be applied as stipulated in the Concession Agreements,” warns Umeme.
Meanwhile, UECDL assures Ugandans that electricity services will go on uninterrupted during the transition period with payment procedures for Yaka units remaining the same.
