Few days ago, Parliament approved request for The Ministry of Energy to borrow US$190Million (Shs699.938Bn) from Stanbic Bank for the buyout it out UMEME, and this was confirmed by minister Nankabirwa.
Today, Speaker of Parliament Anita Among has announced that the Auditor General's final report has valued the buyout of Umeme at 118 million USD.
Among stated that Parliament will rely on the Auditor General’s recommendations regarding the buyout, not the Ministries request.
This comes after Parliament previously approved a 190 million USD loan from Stanbic Bank for the purchase of Umeme.
Among made these remarks while receiving a special audit report on Umeme’s asset investments conducted by the Auditor General.
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