The Uganda Securities Exchange (USE) has extended the suspension of UMEME Limited’s trading counter by another 30 days to facilitate ongoing dispute resolution talks between the power distributor and the Government of Uganda.
This development comes shortly after UMEME’s 20-year electricity distribution concession officially ended on 31st March 2025.
In a statement issued on Monday, 14th April 2025, USE said the trading counter, which was initially suspended on 31st March 2025 for two weeks, will now remain suspended until 14th May 2025.
“The Uganda Securities Exchange (USE) hereby informs all investors and the general public that the involuntary suspension of UMEME Limited’s trading counter is hereby extended for an additional period of thirty (30) days,” the statement read.
According to USE, the extension follows a formal notice of dispute served by UMEME on 11th April 2025 to the Ministry of Finance, Planning and Economic Development, acting on behalf of the government.
“The extension of the suspension is intended to allow for good faith settlement of the dispute between the two parties as per the Concession Agreements,” USE stated.
UMEME officially handed over its network assets to the Uganda Electricity Distribution Company Limited (UEDCL) on 1st April 2025, marking the end of its operations under the concession. The government has already paid US$118 million (about Shs 432.677 billion) to UMEME as part of the post-concession settlement.
USE further directed UMEME to continue complying with all its listing obligations during the suspension period.
“The company shall continue to comply with all the continuous listing obligations applicable to it,” the Exchange noted.
“In addition, the company shall submit a progress report to the Exchange regarding the current state of the affairs of the company and any proposed action.”
UMEME remains one of the most actively traded counters on the Uganda Securities Exchange and is cross-listed on the Nairobi Securities .
