The Nairobi stock exchange (NSE) has resumed trading of Umeme Limited’s stocks following the company’s publication of its 2024 fiscal year financial results.
The NSE decision mirrors that of the Uganda Securities Exchange (USE) which suspended trading of the company’s stocks on 31st March, 2025.
blication of its 2024 fiscal year financial results.
The NSE decision mirrors that of the Uganda Securities Exchange (USE) which suspended trading of the company’s stocks on 31st March, 2025.
“The Uganda Securities Exchange (USE) hereby notifies all investors and the general public that the involuntary suspension instituted on 31st March, 2025 and further extended to 12th June 2025 has been lifted,” the USE said in a statement.
The Nairobi Stock Exchange had earlier last month suspended the planned delisting of Umeme’s shares from its platform after the company’s delay in publishing its financial statements.
The decisions come at a time when Umeme Limited is seeking some good news after its dispute with the Ugandan government and the publication of its poor FY2024 financial statements.
Update on Umeme’s dispute with the Ugandan government
Following Umeme’s dissatisfaction with the $118 million buyout amount paid by the Ugandan government, the company moved to recover the entire sum owed by the government which it claims stands at $292 million.
After negotiations with the government, both sides agreed on an undisclosed payable amount which should have been paid by the government on 31st May, 2025.
Umeme claims this agreement was not honoured by Uganda’s government and announced, in a statement on 2nd June, 2025, to recover the money through an arbitration process in London.
“In the interests of the shareholders and the investing public, the Company resolved to and will proceed to pursue the full recovery of all outstanding sums due through Arbitration in London as stipulated in the Concession Agreements”, the Umeme said in the statement.
Umeme said it will serve the government the Arbitration Dispute Reference in the coming days to begin the arbitration process.
