This archive report was first published on 8 July 2021.
Published on July 8, 2021, Jubilee Holdings has announced a significant investment in Uganda's Bujagali hydroelectric power plant, Africa's largest privately financed hydropower project.
The company has invested an additional KSh4.4 billion in the project, raising its stake to 40.9% from an initial 25%. This investment is a testament to Jubilee Holdings' commitment to expanding its presence in the region.
According to Jubilee's chairman, Nizar Juma, KSh2.2 billion of the investment is from a loan obtained from Kampala-based DFCU bank. The loan has a variable interest rate, matures in five years, and is secured using shares of the power plant.
The Bujagali Power Station is a 250-megawatt hydroelectric power station located across the Victoria Nile, harnessing the energy of Bujagali Falls in Uganda. Construction began in 2007 and concluded in 2012, with the power station officially inaugurated on October 8, 2012. It supplies half of Uganda's effective energy capacity.
