Nairobi, April 8 -- Uganda-based electricity distributor Umeme Limited has cut the value of compensation it expects shareholders to receive from the Ugandan government when the firm's concession ends next year.

The firm, which has been cross-listed on the Nairobi Securities Exchange since December 2012, operates a 20-year electricity distribution concession from the government of Uganda.

The assets and operations of Umeme will be handed back to the government after the expiry of the concession in March 2025, with private shareholders getting compensated at the value of unrecovered capital investments plus a premium of five percent.

In the year ended December 2023, Umeme said the value of these unrecovered investments dropped to $339 mi...