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

by Paul MurungiMarch 19, 2025March 19, 2025
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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Tagged: distribution Ministry of energy Ministry of Finance UEDCL UMEME Ziria Tibalwa Waako

About the Author

Paul Murungi

Paul Murungi is a Ugandan Business Journalist with extensive financial journalism training from institutions in South Africa, London (UK), Ghana, Tanzania, and Uganda. His coverage focuses on groundbreaking stories across the East African region with a focus on ICT, Energy, Oil and Gas, Mining, Companies, Capital and Financial markets, and the General Economy.

His body of work has contributed to policy change in private and public companies.

Paul has so far won five continental awards at the Sanlam Group Awards for Excellence in Financial Journalism in Johannesburg, South Africa, and several Uganda national journalism awards for his articles on business and technology at the ACME Awards.

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