World Bank / Government of Uganda

Rural secured the first World Bank / Government of Uganda Generation and Distribution Concession in partnership with Industrial Promotional Services of Kenya involving the construction of a 5MW hydro generation scheme and related distribution infrastructure. After commencing site operations it transpired that Rural would not be able to obtain SARB approval for the foreign investment due to its limited 45% share-holding in the Project. Rural duly sold its shares back to IPS to conform to the ruling of SARB.