Uganda power distributor Umeme to spend $1.2bn to expand grid

Ugandan power distributor Umeme plans to spend $1.2-billion in the next seven years to revamp and expand the grid and has hired an adviser to explore options for raising the money, the company’s chief executive said on Wednesday. The investments will be used to prepare for an expected rise in power expected to come online by 2020, CEO Selestino Babungi told Reuters in an interview.