Denis Oguzu

Energy Ministry Permanent Secretary Irene Batebe has confirmed that the Auditor General’s report on Umeme’s buyout amount will be released next week, just a few days to the expiry of the power distributor’s 20-year concession.  “Please note that Umeme is a going concern and till the last day of the concession, they [Umeme] could make an intervention on the network. The Auditor General is largely done but must factor all this in the final report expected by 28th, March,” Batebe told the CEO East Africa Magazine.  According to the Investopedia website, the term ‘going concern’ in accounting refers to a…