Investec Asset Management secures $40m stake in Uganda’s Umeme
Following the decision by emerging markets private equity firm Actis to reduce its holding in Umeme from 60% to 21%, Investec Asset Management today announced that it is now, after Actis, the single largest shareholder in the company. Investec Asset Management, one of the largest managers of third party assets in Africa, successfully bid on the stake in Umeme, the leading electricity distribution company in Uganda.