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Umeme Limited’s shares have lost about 85 percent of their value since the electricity distributor handed over its concession to the government in March 2025, making the stock one of the worst-performing counters on the Uganda Securities Exchange (USE) and the Nairobi Securities Exchange (NSE).

The decline has accelerated this year, with the company’s share price falling by nearly three-quarters from 242 shillings at the beginning of 2026 to 63 shillings in last week’s trading. Before the concession ended on March 31, 2025, the stock was trading at 415 shillings.

The sharp drop follows heavy losses recorded in 2025 and the company’s warning that it expects to report another loss for the first half of 2026.

In a notice to shareholders ahead of its annual general meeting later this month, Umeme attributed the expected loss to the cessation of its core business after handing over Uganda’s electricity distribution network to the government at the expiry of its 20-year concession on March 31, 2025.

The company says it currently has no operating revenue and is instead relying on the outcome of an international arbitration process to recover additional funds from the government.

“The Company continues to actively pursue its outstanding claims against the Government of Uganda through the ongoing dispute resolution process as stipulated in the Privatization Agreements and as notified to the public previously,” the notice states.

Investor optimism had initially pushed Umeme’s share price higher before and immediately after the concession expired, as many expected a swift government buyout payment. Trading in the stock was suspended for 74 days from March 31, 2025, to curb excessive speculation over the asset valuation and compensation process.

When trading resumed in June 2025, uncertainty over the company’s future triggered heavy selling, sending the share price into a sustained decline.

The uncertainty has persisted for more than a year, compounded by the suspension of dividend payments and the absence of clarity on when the arbitration process will be concluded.

Despite the price collapse, Umeme remains one of the most actively traded stocks on the Uganda Securities Exchange. According to the USE daily trading report, it is the third most actively traded counter by volume, as both retail and institutional investors continue to exit their positions.

The company’s shares have also come under pressure on the Nairobi Securities Exchange, where Umeme is cross-listed. The stock has fallen from about 20 Kenyan shillings before the concession ended to around 7.04 Kenyan shillings.

Market analysts say investors now view Umeme as a highly speculative stock because its future value depends almost entirely on the outcome of arbitration at the London Court of International Arbitration. The dispute centres on the value of Umeme’s unrecovered investments in Uganda’s electricity distribution network at the end of the concession.

While the government adopted the Auditor General’s valuation of 118 million US dollars (about UGX 433 billion) and paid that amount, Umeme rejected the assessment, arguing that it is entitled to 292 million US dollars (about UGX 1.1 trillion).

The company is therefore seeking an additional 174 million US dollars (approximately UGX 650 billion) through arbitration. The buyout represents investments Umeme made in expanding and improving the electricity distribution network that had not yet been recovered through its operations when the concession expired.

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If you’re a fresh student admitted to Kyambogo University through the Direct Entry Scheme for 2026/2027 and you’re not happy with the programme you were placed on, there’s now a window to switch, and here’s exactly how to do it.

According to a notice from the Office of the Academic Registrar dated 31st July 2026, students who wish to change their course or study time need to follow a set procedure through the university’s student portal.

How To Apply

1. Log onto the individual student portal at myportal.kyu.ac.ug using your username and password, ensuring the portal is activated.
2. Click on “Request for a Service” on the portal.
3. Fill in the required information.
4. Submit the request through the portal.
5. Generate a payment reference number and pay for the requested service at any bank.

Charges and Deadline

The university has set the following charges for the two types of requests:

• Change of Programme: Shs 50,000
• Change of Study Time: Shs 20,000

The deadline for submitting these requests is Friday, 14th August 2026.

Required Documents

Students submitting a request are required to attach photocopies of the following:

1. Application Form
2. Admission Letter
3. O’ Level Result Slip and Certificate
4. A’ Level Result Slip and Certificate
5. Proof of payment

Important Note

The university has clarified that any student seeking to change programme or study time must fall within the cut-off points of the programme or study time they wish to switch to, and any such change remains subject to availability of places in that programme or study time.

Students are advised to act before the 14th August deadline, and to ensure their portal is activated and all required documents are ready before initiating the request.

Lil Pazo Lunabe believes many Ugandan musicians exaggerate how much money they earn from streaming platforms.

The singer shared his views during a phone interview with Rewind, arguing that platforms such as YouTube and Spotify generate only modest earnings that cannot sustain an artist’s lifestyle in Uganda.

He says that reality explains why he pays little attention to streaming income.

I do not really focus on platforms like YouTube because I do not expect much from them. I have never earned anything substantial from those platforms. The money they generate is very small, which is why I am always surprised when people claim they make a lot from YouTube or Spotify.

Instead of blaming the platforms themselves, Lil Pazo pointed to Uganda’s music consumption habits.

According to him, songs spread quickly through unofficial downloads soon after their release, reducing the number of people who stream or purchase music through official platforms.

One of the biggest challenges is that as soon as a new song is released, DJs and other people quickly download and distribute it. That leaves very few people streaming or buying the music through official platforms.

For that reason, he believes musicians should prioritise reaching audiences over chasing streaming revenue because live performances continue to generate the biggest financial returns.

Musicians should focus on getting their music to the people rather than expecting streaming platforms to make them rich. We need to tell the truth: the real money in Uganda’s music industry comes from events and live performances, not from YouTube or Spotify.

Lil Pazo’s comments add to the ongoing debate over whether streaming platforms can generate meaningful income for Ugandan musicians.

While fellow singer Kalifah AgaNaga believes small streaming earnings can accumulate into a substantial amount with patience, Lil Pazo insists the real money still comes from live performances and events.

Diamond Platnumz never hesitates to pay to get into the room with stars he considers to be ‘above his pay grade’ and, according to his longtime manager and strategist SK Sallam, the gamble has repeatedly paid off.

Narrating an incident, Sallam points to Diamond ft Neyo’s 2017 hit song ‘Marry You’ revealing that the Tanzanian spent at least $6,000 (Shs 21M) to meet up with the American star singer.

READ: Diamond Platnumz on collaboration with Wiz Khalifa?

ALSO READ: Spice Diana – Diamond Platnumz: What are they up to?

ALSO READ: Busta Rhymes names Diamond Platnumz the African Michael Jackson

That meeting eventually resulted in the collabo which propelled Diamond’s career to another level.

Sallam travelled to Nairobi ahead of Ne-Yo to meet his team, establish a relationship and pitch the idea of a collaboration. It was an expensive mission, but one Diamond was willing to finance.

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Equity Bank Uganda on Saturday convened its 2026 Diaspora Webinar under the theme “From Remittances to Investment Capital: Unlocking Diaspora Wealth for Uganda’s Economic Transformation.” The virtual engagement brought together Ugandans living across Europe, North America, the Middle East, Asia, Australia and East Africa, alongside senior government and central bank officials.

Opening the webinar, Gift Shoko, Managing Director of Equity Bank Uganda, thanked diaspora customers for their continued support through 2025 and into 2026. He reiterated that the platform was designed both to appreciate customers and to listen to their feedback on how the Bank can serve them better.

“As Equity, we are a caring and listening partner. This webinar is one of the platforms we have created to engage Ugandans in the diaspora wherever they are. Our goal is to support you not only to send money home, but to invest in Uganda and contribute to the country’s long-term transformation,” Shoko said.

Shoko highlighted Equity’s growing footprint in Uganda, noting that the Bank now serves over 2.1 million customers through 50 branches, nearly 10,000 agents and thousands of merchants. He also outlined the Group’s broader Africa Recovery and Resilience Plan, which prioritises agriculture, manufacturing, trade, MSMEs, social impact and technology as pathways to continental self-reliance.

Delivering the keynote address, Professor Augustus Nuwagaba, Deputy Governor of the Bank of Uganda, called on Ugandans abroad to take greater ownership of the country’s economic story by converting remittances into strategic investments.

Quoting the African proverb, “Until the lion learns how to tell its story, the story of the hunt will always glorify the hunter,” Professor Nuwagaba urged the diaspora to shape its own narrative and highlight its contribution to national development.

He announced that the Bank of Uganda is working on initiatives to expand diaspora investment options, including the development of a Diaspora Bond that would offer secure investment channels while supporting national development projects. He also pointed to opportunities in infrastructure financing, particularly energy generation, and encouraged collective diaspora investment.

Professor Nuwagaba advised diaspora investors to focus on sectors they understand and that do not require constant physical supervision, citing some forms of real estate, FinTech, digital infrastructure and payment systems as practical options. He further stressed the importance of continuous learning, personal capability building and operating in a “blue ocean” of unique value creation.

“If you wash your hands clean, you eat with kings; I call on the diaspora to take ownership of Uganda’s growth journey and help shape a stronger economic future,” Professor Nuwagaba concluded.

Joseph Enyimu, Commissioner for Economic Development Policy and Research at the Ministry of Finance, Planning and Economic Development, outlined Uganda’s ambition to build a US$500 billion economy anchored on innovation, industrialisation and a knowledge-based economy.

He highlighted priority sectors for diaspora investment under the ATMS framework (Agro-industry, Tourism, Minerals, Oil & Gas, and Science, Technology, Innovation, ICT and Creatives). Enyimu encouraged Ugandans abroad to move beyond household support and channel resources into businesses, SMEs, agriculture, real estate, government securities and collective investment schemes.

He also noted government reforms aimed at making property ownership easier through digital land services and improved land administration, and urged diaspora communities to organise into structured investment groups to access incentives and licences.

Winfred Wanjiru, Senior Manager for International Banking and Cross-Border Payments, presented Equity Bank’s suite of diaspora solutions, including digital banking platforms, Visa debit cards, property and construction financing, equity release facilities, and a 24/7 contact centre supported by dedicated Diaspora Relationship Managers. She also encouraged Ugandans abroad to obtain a National ID as a key requirement for accessing financial and property services in Uganda.

Tim Mugerwa of the Uganda Nurses and Midwives Association UK (UNMA-UK) shared how the association’s partnership with Equity Bank has evolved from basic retail banking into broader financial and investment support.

He highlighted plans to explore wealth management products such as Treasury Bills, Government Bonds and Unit Trusts, and pointed to a joint social impact initiative supporting the establishment of a Mental Health Rehabilitation Unit in partnership with the Uganda Police Force.

In his closing remarks, Gift Shoko reaffirmed Equity Bank’s commitment to remaining a trusted partner for the diaspora. He noted progress since the previous webinar in March 2025, including improved access to National ID services through collaboration with NIRA, a reduction in remittance costs from around 13% to about 9%, expanded financial inclusion in the Middle East, and strengthened confidence among diaspora customers.

Equity Bank Uganda reiterated that it continues to serve as a bridge between Ugandans abroad and investment opportunities at home, offering secure remittance channels, tailored financing and dedicated relationship support.

The Bank invited participants with further questions or assistance from the bank to write to Ugandans.Abroad@equitybank.co.ug

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Uganda’s Ministry of Education and Sports is in the advanced stages of developing a new Higher Education Policy that officials hope will push university enrollment from its current 6.5 percent up to 9 percent, the continental target for Africa.

Mr John Ochira Pakony, Assistant Commissioner for University Education and Training at the Ministry, said on 1st August that the policy’s central feature is giving full legal backing to the Higher Education Access Certificate (HEAC), a pathway currently used to bridge students who narrowly missed direct university entry. He said the policy is nearing the end of consultations before it heads to Cabinet for approval and eventual implementation.

Pakony noted that the reform will require amending the Universities and Other Tertiary Institutions Act 2001, the law currently governing higher education in the country, but expressed confidence that the changes will help address Uganda’s persistently low enrollment rate.

What HEAC Actually Does

HEAC is a one-year bridging programme for students who sat their Uganda Advanced Certificate of Education (UACE) exams but fell short of the two Principal Passes required to pursue a degree. Once the new policy is approved, HEAC would formally join direct entry and mature entry as a recognised pathway into university.

Pakony made these remarks at the Uganda Petroleum Institute, Kigumba, during a ceremony where the Forum for African Women Educationalists (FAWE) Uganda awarded bursaries to 818 young people to access higher education under the FAWE/Mastercard Foundation Higher Education Access Programme (HEAP).

Of the 818 beneficiaries selected from 65 districts out of 9,182 applicants, 618 will join universities through HEAC, while the rest will proceed to Technical and Vocational Education Institutes (TVETs). This cohort marks the final group under phase two of HEAP, which runs from 2024 to 2030 and is expected to benefit 2,000 participants overall. Phase two builds on phase one, which supported 334 participants between 2017 and 2023.

FAWE Uganda Executive Director Susan Opok Tumusiime said the HEAC pathway strengthens students’ foundational academic skills and subject-specific preparation well enough that they can compete favourably in degree programmes without needing to repeat A-Level. She noted that HEAC has already been accredited as an additional university entry pathway by the National Council for Higher Education and the Ministry, giving students from under-resourced schools a genuine second chance, and confirmed that government has already gazetted the programme accordingly. She also urged government to prioritise investment in education as a key driver of youth development.

State Minister for Primary Education Phyllis Chemutai, who officiated at the handover, reaffirmed government’s commitment to programmes widening access to higher education for disadvantaged learners.

“As part of our policy framework, we are prioritising STEM education, especially the increase of girls’ participation in STEM,” she said.

FAWE Uganda Board Chairperson Margaret Mogen also pledged the organisation’s continued support toward helping young men and women from marginalised families access higher education.

Ugandan singer A Pass, real name Alexander Bagonza, sent his fans into a frenzy on Saturday, 1st August 2026, revealing he had married his partner, Alicia. But for a couple whose wedding is now all over Ugandan social media, one question keeps coming up: who exactly is Alicia?

What’s Actually Known So Far

Unlike A Pass, whose music career and public profile stretch back over a decade, Alicia has largely stayed out of the spotlight. Public reporting on the wedding has so far identified her only by her first name, with no widely published details yet on her profession, background, or family.

What is known is that the relationship wasn’t a sudden reveal. In an interview a few months before the wedding, A Pass had already confirmed he was in a serious relationship and hinted that a traditional marital ceremony was being planned, suggesting the couple had been together for some time before going public.

A Pass broke the news himself, sharing a photo of the two of them, him dressed sharply in a suit and Alicia beside him, with the simple caption “Married.” The post set off a wave of congratulatory messages from family, friends, fellow celebrities, and fans.

Days later, more glimpses from their traditional wedding ceremony surfaced online, showing a celebration styled by a lineup of local creatives handling photography, makeup, hair, and outfits for the couple and their bridal party.

Footage from the traditional ceremony also caught fans’ attention for another reason: several clips showed Alicia with what appeared to be a visible baby bump, quickly sparking pregnancy rumours online. Neither A Pass nor Alicia has publicly addressed the speculation.

For now, Alicia remains something of a private figure despite suddenly being one of the most talked-about new brides in Kampala’s entertainment circles, with fans likely to keep digging for more details on the woman who has captured A Pass’s heart.