KAMPALA, Uganda | Umeme Limited has revealed plans to advance its international lawsuit in London against the government of Uganda as its concession buyout increases to USD 292 million.

Umeme disclosed that while recent negotiations with the government resolved some components of the buyout, no agreement was reached on the company’s full claim.

According to a statement issued by company lawyers, SM & CO Advocates, the company became dissatisfied with the buyout amount computed and paid by the Government of Uganda, formerly USD 118 million, which had earlier been paid based on the Auditor General’s assessment.

“Although the negotiations were able to resolve and agree on certain amounts as payable, no resolution was reached on the payment of Umeme’s entire claim, which stands in the sum of USD 292 million over and above the admitted buyout amount of USD 118 million already paid by the government,” the company stated.

While Umeme had earlier claimed a buyout amount of USD 234 million, the auditor general recommended a significantly lower sum of USD 118,385,603, which the government paid.

” In the interest of the shareholders and the investing public, the company’s 2025 investments proceed to pursue the full recovery of all outstanding sums due through arbitration in London as stipulated in the concession agreement.

According to SM & Co Advocates, the Office of the Auditor General is currently conducting an audit of the company’s 2025 investments, which, once admitted and paid by the government, will lead to the reduction in the claim.

With no comprehensive agreement reached, Umeme confirmed it will now proceed to arbitration in London as provided for under the concession agreements.

The Arbitration Dispute Reference shall be served upon the government in the coming days in order to commence the Arbitration process,” the statement reads