Umeme Ltd

Umeme Ltd was the electricity distribution concessionaire for Uganda's national grid, listed on both the Uganda Securities Exchange and the Nairobi Securities Exchange, operating under a 20-year concession agreement with the Government of Uganda that began in 2005. The concession reached its natural end on 31 March 2025, at which point Umeme handed over the distribution system to the state-owned Uganda Electricity Distribution Company Ltd (UEDCL), ending the company's core revenue-generating operations partway through FY2025 (workforce reduced from 2,409 to just 18 employees). FY2024 already reflected the wind-down, with a large loss driven by accelerated amortisation/impairment of the concession intangible asset and a spike in expected credit losses, and FY2025's balance sheet reflects a company in post-concession transition with net current liabilities and negative shareholders' equity. Umeme is now pursuing recovery, through international arbitration in London, of an outstanding contractual Buy-Out Amount from the Government of Uganda (a first partial payment of USD 118.4 million was received in March 2025), while operating under a Board-approved business continuity plan through December 2026; the directors have stated no resolution to wind up the company is under consideration.