Absa Funds $50m Uganda Power Expansion

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Absa Bank Uganda provided a five-year, $50 million financing facility to the Uganda Electricity Distribution Company Limited (UEDCL) to expand national power distribution. The funding will extend the network to over 200,000 new customers by 2026, support grid upgrades, deploy digital meters, and integrate renewable energy. UEDCL and Absa officials said the initiative will improve electricity reliability, efficiency, and access, supporting Uganda’s industrialization and aligning with Vision 2040 and the National Development Plan IV.