Business 15 March 2026 Daily Monitor (Uganda)
Uganda Faces Acute Shortage of Certified Accountants Amid Growth Ambitions
Uganda has only about 6,000 certified public accountants despite needing around 10,000 to support its booming economy and 2040 tenfold growth strategy. The gap is severely impacting SMEs and the informal sector, prompting calls for government scholarships and urgent action. Source: https://www.monitor.co.ug/uganda/news/national/uganda-battles-shortage-of-certified-accountants-5392176
Uganda is grappling with a critical shortage of professional certified public accountants. Estimates show the country requires approximately 10,000 such experts to meet economic demands, but currently has only around 6,000.
With over 200,000 registered Small and Medium Enterprises (SMEs), the accountant-to-business ratio remains alarmingly low. This scarcity, highlighted by the Institute of Certified Public Accountants Uganda (ICPAU), leaves many companies, especially SMEs, without access to licensed professionals, allowing underqualified individuals to deliver subpar services.
During ICPAU’s 16th graduation ceremony, CEO Derrick Nkajja urged the government to rapidly expand the number of certified accountants across ministries, agencies, and local governments. He emphasized their role in formalizing the large informal sector, broadening the tax base, enhancing revenue mobilization, and ensuring accountability through expert tax guidance.
Nkajja proposed a government scholarship scheme to train more professionals and told graduates their skills are vital for the economy’s needs.
ICPAU President Timothy David Ediomu advised accountants to commit to International Financial Reporting Standards (IFRS) and Sustainability Disclosure Standards, underscoring the profession’s role in transparency, sustainability, and long-term value.
Source: Daily Monitor (Uganda)