Umeme’s stock price climbed 14.7% during the week on the back of high demand from investors in the equities market.

Early in the week, the government noted that it will cut Umeme loose after March 2025, ending years of back and forth negotiations with the State over its rocky concession terms and conditions.

At the annual general meeting earlier this year, Umeme reported that the amount due to the shareholders due from government was about $300m at the time or about sh600 a share, a figure which analysts say with continued investment will increase by 2025.

Umeme had the week’s only price change, increasing by 14.7% to close at sh241.

The Uganda Securities Exchange market turnover rose to sh1b this week, from sh75.2m traded previously according to a report from Crested Capital.

The report shows that volumes during the week grew to 4.56 million from 1.2 million traded previous – across six active counters.

Umeme, according to the report, was the most traded counter with a turnover of sh966m from 4.01 million shares.

MTN moved sh59.6m from 0.33 million shares and Bank of Baroda (BOBU) exchanged sh7.5m from 88,700 shares.

Stanbic Holdings dealt sh1.9m from 85,100 shares, CiplaQCIL traded sh1.1m from 18,377 shares and Uganda Clays Limited dealt sh0.4 million from 29,467 shares.

Among the cross-listing prices, Equity Group Holdings and Centum Investments were the only gainers adding 7.73% and 1.31% respectively. 

Jubilee Holdings Limited led the laggards dropping 4.49%, KCB Group shed 2.20%, East African Breweries Limited declined by 1.86% and Nation Media Group lost 1.51%.   

The USE All Share Index (ALSI) declined by 0.25% to 1,206.84 while the C10, Crested’s local companies’ index added 0.71% to 96.99.