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CMA opens window for retailers to buy Umeme shares

Umeme technicians repair power lines in Kampala. Actis has 60.08 per cent shareholding in the Ugandan electricity vendor. Photo/FILE

The Capital Markets Authority (CMA) has lifted the suspension of Uganda electricity distributor Umeme from trading to allow retail investors buy some of the shares on sale by private equity (PE) firm Actis.

The UK PE firm is the majority shareholder in Umeme with a 60.08 per cent shareholding through its subsidiary Umeme Holdings and is selling a significant stake to select investors through private placement.

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