Section
Recent finance coverage and related updates from across Uganda Online.
news 13 April 2026
An audit has uncovered Shs18.28 million in overpayments to three retired civil servants' estates in Masindi District due to errors in the IFMS system. The report also highlights underpayments to two pensioners totaling nearly Shs12 million. Source: https://www.monitor.co.ug/uganda/news/national/masindi-loses-shs18m-in-pension-overpayments-5421850
Business 12 April 2026
Uganda's national budget follows a continuous annual cycle managed by the Finance Ministry under President Museveni's oversight, starting post-June reading and shaping up by September through a participatory, programme-based approach. For the 2026/27 financial year, the government targets Shs84.2 trillion, with Shs44.5 trillion from domestic sources, emphasizing accountability in allocations amid concerns over underfunded key sectors. Source: https://www.monitor.co.ug/uganda/business/finance/how-uganda-s-national-budget-comes-to-life-5421440
Business 12 April 2026
Uganda's central bank has released draft guidelines to strengthen corporate governance in the rapidly expanding fintech sector, where mobile money handles trillions in transactions. The rules aim to replace informal startup practices with robust boards and risk management, amid concerns over outdated structures. Source: https://www.monitor.co.ug/uganda/business/technology/local-fintech-sector-stares-at-its-governance-moment-5420712
finance 10 April 2026
Uganda's Bank of Uganda is aggressively lowering government bond yields amid low inflation, rejecting high bids to impose lower rates despite secondary market prices indicating investor skepticism. The upcoming auction features 3-year, 10-year, and 20-year bonds with expected yields between 14.75% and 15.75%. Source: https://www.monitor.co.ug/uganda/news/national/what-you-should-know-before-tuesday-s-bond-auction-5419838
economy 10 April 2026
Remittance outflows from Uganda dropped to Shs1.45 trillion ($402 million) in 2025 from Shs1.8 trillion ($502 million) the previous year, with transactions falling from 2.66 million to 2.12 million. India led recipients, followed by Kenya, the US, UK, and Canada, as reported by the Bank of Uganda. Source: https://www.monitor.co.ug/uganda/news/national/workers-in-uganda-sent-less-money-to-relatives-abroad-report-5419832
economy 10 April 2026
Bank of Uganda Governor Dr Michael Atingi-Ego has highlighted that more than Shs7 trillion is stuck in 623 unresolved banking cases, calling it 'dead capital' that hampers economic growth. Chief Justice Flavian Zeija noted Shs3.5 trillion in pending Commercial Division cases alone, pushing for alternative dispute resolution (ADR) to free up funds. Source: https://www.monitor.co.ug/uganda/news/national/shs7-trillion-locked-in-unresolved-disputes-bou-5418688
news 9 April 2026
The Ugandan government will disburse Shs17 trillion in the final quarter of the fiscal year, with a large share directed to statutory obligations. This allocation underscores key financial priorities amid ongoing national spending. Source: https://www.monitor.co.ug/uganda/news/national/how-shs17-trillion-will-be-shared-in-last-quarter-5418722
Business 9 April 2026
Uganda's total public debt has reached Shs130.8 trillion by the end of 2025, with domestic borrowing slightly edging out external debt at Shs66 trillion and Shs64 trillion respectively. The debt-to-GDP ratio has climbed to 52 percent, exceeding the IMF's 50 percent threshold, while debt servicing is projected to consume nearly half of government revenues. Source: https://www.monitor.co.ug/uganda/business/finance/uganda-s-public-debt-climbs-to-shs130-trillion--5418636
Business 9 April 2026
Voluntary savings at Uganda's National Social Security Fund (NSSF) have skyrocketed to Shs114 billion, exceeding initial expectations. Officials were surprised by the strong public response despite concerns over mandatory contributions. Source: https://www.monitor.co.ug/uganda/news/national/nssf-voluntary-savings-surge-to-shs114-billion-5418480
Business 9 April 2026
Collective investment schemes in Uganda have amassed Shs5.6 trillion in savings by December 2025, with over 180,000 Ugandans participating amid booming capital market interest. Public offers have raised Shs2.3 trillion, pushing domestic market capitalisation to Shs15.9 trillion. Source: https://www.monitor.co.ug/uganda/business/finance/collective-investment-schemes-amass-shs5-6-trillion-5417824
Business 7 April 2026
The sudden closure of Capital Chicken's Kampala offices in late 2023 revealed a massive Ponzi scheme that duped thousands of Ugandans with false promises of high returns from chicken farming investments. Directors allegedly vanished with billions, leaving investors in ruins and sparking outrage over regulatory failures. Source: https://www.monitor.co.ug/uganda/business/finance/how-chicken-became-uganda-s-most-lucrative-lie-5416212
Business 6 April 2026
Uganda is issuing its first sovereign Sukuk bond worth €405.5 million (Shs1.75 trillion) to fund 15% of Phase 1 of the Standard Gauge Railway from Malaba to Kampala. This Shariah-compliant instrument diversifies funding amid rising public debt and taps into the global Islamic finance market. Source: https://www.monitor.co.ug/uganda/business/prosper/uganda-rolls-the-dice-on-first-sukuk-bond-5414422
Business 5 April 2026
Uganda's stock market is rebounding with higher turnover and volumes in February, driven by key players like MTN Uganda and Stanbic Bank Uganda, as declining government bond yields shift investor focus from fixed income to equities. Source: https://www.monitor.co.ug/uganda/business/finance/ugandan-stocks-gain-as-bond-market-cools-5414262
Business 5 April 2026
New tax proposals to raise excise duties on cement and paints are set to increase construction costs, ultimately pushing up housing prices across Uganda. Industry experts warn that this could exacerbate the ongoing housing affordability crisis. Source: https://www.monitor.co.ug/uganda/business/finance/-new-tax-proposals-will-push-up-housing-costs-5411544
Business 2 April 2026
The World Bank has approved Shs2 trillion to support development in 10 cities across Uganda. The initiative is expected to generate at least 40,000 direct jobs, with 20,000 being permanent positions. Source: https://www.monitor.co.ug/uganda/business/finance/world-bank-approves-shs2-trillion-for-10-cities-5411526
economy 2 April 2026
Remittance inflows to Uganda hit $2.5 billion in 2025, equivalent to 3.8% of GDP, driven by over 16 million transactions averaging $152 each. The US led as the top sender, with digital channels like mobile money dominating 73% of transfers. Source: https://www.monitor.co.ug/uganda/news/national/remittances-to-uganda-hit-2-5-billion-in-2025-5411676
Politics 2 April 2026
Ugandans will cover 52.8% of the FY2026/27 budget totaling Shs84.2 trillion, with local revenue targets rising to Shs44.5 trillion, including Shs7.3 trillion more for URA. New tax measures, such as higher PAYE rates and fuel duties, aim to raise Shs1.7 trillion amid priorities in agro-industrialization and tourism. Source: https://www.monitor.co.ug/uganda/news/national/ugandans-to-shoulder-52-of-shs84-2-trillion-budget-5411502
finance 1 April 2026
Borrowers in Uganda face unfair double payments for credit insurance when transferring loans to new banks with better rates, as the new lender demands fresh coverage despite existing upfront insurance. Experts call for reforms to link insurance to the loan risk itself, not the bank, to promote competition and protect consumers. Source: https://www.monitor.co.ug/uganda/oped/letters/loan-buyoffs-should-borrowers-pay-twice-for-switching-lenders--5410632
Politics 1 April 2026
The Ugandan government has presented new tax legislation for the 2026/27 financial year, featuring a 30% environmental levy on imported second-hand clothing to curb waste and boost local manufacturing. Additional changes target excise duties on spirits, cement, paints, cooking fat, and introduce withholding taxes on digital services, gaming winnings, and high incomes. Source: https://www.parliament.go.ug/news/4384/govt-tables-tax-bills-fy202627
Business 1 April 2026
MARU Credit highlights that Ugandan SMEs often lack the internal structure to effectively use credit, beyond just limited funding access. Through their incubator program, they emphasize building fundamentals like record-keeping and financial discipline to enable growth. Source: https://www.monitor.co.ug/uganda/business/we-have-been-cooking-now-it-is-time-to-serve-5410518
Business 1 April 2026
The National Social Security Fund has introduced a new voluntary savings option under its SmartLife scheme, allowing contributions as low as Shs500, following Cabinet approval to boost informal sector retirement savings toward 15 million participants by 2035. Since the 2024 launch, it has already attracted 3.4 million savers with Shs30 billion in assets. Source: https://www.monitor.co.ug/uganda/business/markets/you-can-now-save-as-low-as-shs500-under-nssf-s-voluntary-scheme-5410484
Business 1 April 2026
Commercial banks in Uganda approved just 39.2 percent of loan applications in January 2026, the lowest in five years, despite a slight uptick in private sector credit. This reflects lenders' growing risk aversion, particularly in key sectors like trade and agriculture. Source: https://www.monitor.co.ug/uganda/business/markets/loan-approvals-decline-to-the-lowest-levels-in-years-5410466
economy 30 March 2026
Africa holds immense wealth in informal savings that, if formalized and channeled effectively, could drive massive economic development across the continent. Experts highlight the need to optimize these funds to unlock hidden opportunities. Source: https://www.monitor.co.ug/uganda/news/development-finance-in-africa-private-savings-unlocked-5408470
Business 30 March 2026
Sukuk, or Islamic bonds, are gaining momentum due to core Islamic finance rules that ban interest, offering an asset-backed alternative reshaping international markets. Their growth highlights a shift toward ethical, Sharia-compliant investments worldwide. Source: https://www.monitor.co.ug/uganda/business/prosper/sukuk-islamic-bonds-reshaping-global-finance-5408462
Business 28 March 2026
Civil Society Budget Advocacy Group Executive Director Julius Mukunda highlights surging public debt, low tax-to-GDP ratios, and fiscal mismanagement in the 2025 Auditor General's report, warning of severe constraints on essential services. He urges reforms to address inefficiencies in revenue collection, arrears, and key sectors like health and education. Source: https://www.monitor.co.ug/uganda/business/finance/our-limited-fiscal-headroom-must-be-a-cause-of-concern-says-mukuda-5406230
Business 28 March 2026
Uganda's tax dispute framework offers multiple mechanisms like ADR but faces challenges in coordination, tight deadlines, and lengthy processes, according to practitioners and URA officials. Reforms are urged to enhance clarity, reduce timelines, and build taxpayer trust. Source: https://www.monitor.co.ug/uganda/business/finance/why-tax-dispute-system-in-uganda-needs-reform-5406040
Politics 27 March 2026
Parliament's finance committee has grilled the Uganda Revenue Authority over its proposal to spend Shs18 billion yearly on office rent at Pearl Tower, seven years after completing its Shs140 billion Nakawa headquarters meant to cut such costs. Lawmakers also probed high budget items like welfare, training, and ICT amid concerns over revenue growth and tax compliance. Source: https://observer.ug/news/ura-seeks-shs-18bn-for-rent-despite-shs-140bn-nakawa-headquarters
Politics 27 March 2026
Ugandan Parliament has turned down a Private Member’s Bill proposed by Hon. Ssemwanga Gyaviira to require state corporations and public entities to deposit all collected revenues into the Consolidated Fund for parliamentary oversight. The rejection came amid concerns over constitutionality and existing legal frameworks allowing some retention of funds. Source: https://www.parliament.go.ug/news/4316/proposal-control-spending-source-fails-parliament
Politics 27 March 2026
Ugandan lawmakers commended the Uganda Revenue Authority for surpassing revenue targets by Shs264.87 billion and the Uganda Retirement Benefits Regulatory Authority for boosting assets under management to Shs30.7 trillion. Despite the praise, concerns were raised over low tax-to-GDP ratios, domestic tax inefficiencies, and URBRA's operational challenges. Source: https://www.parliament.go.ug/news/4312/legislators-praise-ura-urbra-impressive-performance
Business 25 March 2026
Major global asset managers are broadening access to private markets amid slowing exits and rising risks, but Uganda's nascent ecosystem struggles with currency volatility, mismatched funding, and limited exit options. Experts warn that scaling without addressing these basics could import global vulnerabilities into fragile local markets. Source: https://www.monitor.co.ug/uganda/business/markets/private-markets-go-mainstream-as-uganda-still-builds-the-basics--5403318
Politics 25 March 2026
Uganda's Public Accounts Committee (Local Government) has criticized Kira Municipality officials for failing to recover Parish Development Model (PDM) funds, raising fears of repeating past program failures like the Youth Livelihood Programme. The committee demanded detailed recovery reports amid low repayment rates from disbursed billions. Source: https://www.parliament.go.ug/news/4311/pac-faults-kira-municipality-over-poor-recovery-pdm-funds
Business 24 March 2026
The government has obtained Shs422.26 billion through borrowing to purchase 10 new planes for Uganda Airlines, addressing fleet shortages that have disrupted international routes. This funding, part of a larger supplementary budget approved last year, aims to boost the airline's capacity amid rising fiscal pressures. Source: https://www.monitor.co.ug/uganda/business/markets/govt-secures-shs422b-to-buy-10-planes-for-uganda-airlines--5401954
Politics 23 March 2026
The Ugandan government has submitted a Shs6 trillion supplementary budget request to Parliament to address extra spending needs in ministries, departments, agencies, and local governments for the 2024/2025 financial year. The proposal was presented by Minister of State Henry Musaasizi during a plenary session presided over by Speaker Anita Among. Source: https://www.parliament.go.ug/index.php/news/4297/govt-seeks-shs6-trillion-supplementary-budget-bridge-funding-gap
economy 23 March 2026
The Ugandan government plans to raise an additional Shs4.8 trillion through fresh tax reforms and URA administrative steps for the 2026/2027 financial year. Key changes include higher PAYE for top earners, fuel and sugar excises, and new duties on motorcycles and property transfers. Source: https://www.monitor.co.ug/uganda/news/national/tax-proposals-to-hit-hard-as-govt-seeks-to-collect-shs4-8-trillion-5399858
Business 22 March 2026
Uganda Revenue Authority grapples with escalating smuggling fueled by tax gaps with neighbors and global trade shocks from conflicts, risking its Shs36.74 trillion target amid seized goods overflowing warehouses and declining imports. Source: https://www.monitor.co.ug/uganda/business/finance/trade-disruptions-and-smuggling-may-stand-in-the-way-of-ura-s-shs36-trillion-target--5398804
Business 22 March 2026
The Uganda Securities Exchange (USE) has seen a significant boost in market capitalization due to sustained share price gains across several listed firms, driven by investors positioning for dividends and upcoming financial results. Top performers like MTN Uganda and Airtel led the rally, enhancing shareholder value. Source: https://www.monitor.co.ug/uganda/business/markets/rising-share-prices-boost-use-market-capitalization-5398794
Business 21 March 2026
Mary Baine, executive secretary of the African Tax Administration Forum (ATAF), advocates for simplifying complex tax structures and digitizing systems to boost revenue collection across Africa. With her extensive experience from Rwanda and ATAF, she aims to raise the continent's tax-to-GDP ratio from 16% to 20% amid rising debt and donor fatigue. Source: https://www.monitor.co.ug/uganda/business/finance/not-all-is-lost-for-the-tax-systems-in-africa-says-mary-baine--5398282
Business 19 March 2026
Equity Bank Uganda turned a Shs36.6b loss in 2023 into a 500% profit surge to Shs104.7b by 2025 through aggressive provisioning, loan book cleanup, and disciplined cost management. This strategic reset strengthened its balance sheet and positioned it as the fastest-growing subsidiary in the Equity Group. Source: https://www.monitor.co.ug/uganda/business/markets/the-reset-equity-bank-uganda-s-three-year-turnaround-5396740
Business 19 March 2026
Geopolitical shocks from US-Israel strikes on Iran have prompted offshore investors to pull back from Ugandan government securities, weakening the shilling to around Shs3,766 per dollar and driving up bond yields. The Bank of Uganda is countering the pressure through liquidity measures, despite solid local fundamentals like 2.9% inflation. Source: https://www.monitor.co.ug/uganda/business/finance/offshore-investors-rattle-bond-market--5396710
economy 19 March 2026
Uganda's government defends its public debt management as sustainable, emphasizing strategic investments in infrastructure and growth sectors that are already boosting the economy. Despite rising debt levels, the latest Debt Sustainability Analysis confirms long-term viability with prudent borrowing and revenue mobilization efforts. Source: https://www.monitor.co.ug/uganda/oped/commentary/on-uganda-s-public-deb-management-strategy-5396390
economy 18 March 2026
Uganda's total public debt reached $34.86 billion (Shs 131.2 trillion) by December 2025, up from $34.21 billion three months earlier, pushing the debt-to-GDP ratio to 52.7% despite significant servicing payments. While the government deems it sustainable, experts warn of high domestic interest burdens and call for better fiscal management. Source: https://observer.ug/news/ugandas-debt-rises-to-shs-131-trillion
Politics 17 March 2026
Uganda's government has presented the Supplementary Appropriation (No.2) Bill, 2025, to parliament for approval of Shs 6 trillion already drawn from the Consolidated Fund last year. The funds addressed shortfalls in sectors like energy, State House, works, defence, and local governments amid revenue shortfalls and rising costs. Source: https://observer.ug/news/govt-seeks-parliamentary-approval-for-shs-6-trillion-already-spent-last-year
economy 16 March 2026
The Uganda shilling has depreciated significantly against the US dollar due to escalating Middle East conflicts driving up oil prices and global uncertainty. Bank of Uganda is actively managing liquidity to stabilize the currency amid rising import costs and debt servicing challenges. Source: https://www.monitor.co.ug/uganda/news/national/what-next-as-uganda-shilling-weakens-amid-middle-east-tensions--5392790
Business 16 March 2026
Uganda's multiple taxes on mobile money transactions, including excise duties on withdrawals and agent commissions, are driving up costs and pushing users back to cash. Experts warn this undermines financial inclusion despite the sector's massive growth to 43 million accounts and Shs326 trillion in transactions. Source: https://www.monitor.co.ug/uganda/business/prosper/mobile-money-taxes-reverse-digital-financial-inclusion-5392494
Politics 13 March 2026
The Ugandan government has submitted a Shs6 trillion supplementary budget request to Parliament to address extra spending needs in ministries, departments, agencies, and local governments for the 2024/2025 financial year. Minister Henry Musaasizi presented the bill during a plenary session on March 12, 2026, presided over by Speaker Anita Among. Source: https://www.parliament.go.ug/news/4297/govt-seeks-shs6-trillion-supplementary-budget-bridge-funding-gap
Politics 13 March 2026
Uganda's Public Accounts Committee has scrutinised the Ministry of Lands, Housing and Urban Development over its Shs950 million expenditure on the Hoima Oil Refinery proximity area master plan without parliamentary approval. MPs highlighted transparency issues, domestic arrears exceeding Shs401 billion, and violations of procurement rules during a meeting with ministry officials. Source: https://www.parliament.go.ug/news/4289/lands-ministry-expenditure-shs950-million-master-plan-unauthorised
Business 11 March 2026
President Yoweri Museveni launched Tamini General Insurance, Uganda's first Sharia-compliant insurer, during an Iftar dinner in Kampala. The move builds on recent legal reforms and Salaam Bank's success to boost financial inclusion. Source: https://observer.ug/news/museveni-launches-ugandas-first-islamic-insurance-company