Uganda: Umeme secures $70m loan

Distribution company Umeme Ltd announced on 12 December that it has secured a $70m loan that will part-fund its capital expenditure for the next two years. The World Bank Group’s International Finance Corporation was lead arranger for the syndicated loan; participants included Stanbic Bank Uganda Ltd, Standard Chartered Bank and the Netherlands’ FMO. Umeme is investing in the expansion and reinforcement of its network to improve the quality and reliability of supply.