Jubilee to Acquire Sithe Global’s Stake in Uganda Power Plant

September 2, 2016


Kenyan insurer plans to invest 5.5b shillings in Uganda’s 250MW Bujagali hydro power project, boosting its stake by 8.8%, Nairobi-based Business Daily newspaper reports, citing Jubilee Holdings Chairman Nizar Juma.

* Transaction will be completed in a few weeks; part of Jubilee’s plan to diversify its investments;
* Project supplies 40% of Uganda’s electricity. Source: Bloomberg