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Bank of Uganda

Single-storey building with a red roof and signs for Centenary Bank's CenteAgent and dfcu Agent, plus Airtel Money and other agent notices by the door.

Shilling in now familiar territory with another record low

Uganda’s shilling reached another record low on Friday, a day after the central bank resumed selling foreign currency
Glass-fronted European Investment Bank headquarters in Luxembourg, with flags of EU member states outside.
Green finance

EIB backing targets climate-risk rules at Ugandan banks

Uganda’s green taxonomy and existing climate-risk rules move closer to implementation under EIB Global support
A stack of Ugandan shilling banknotes—50,000, 20,000, 10,000, and 5,000—arranged in a currency counting machine.
Uganda Shilling

BoU turns to dollar sales as political warnings meet market pressure

Bank of Uganda sold foreign currency after rate rises failed to halt the shilling’s slide, despite warnings from Museveni and Ggoobi against using reserves
Street scene outside a luggage shop in downtown Kampala
Uganda Shilling

Shilling closes at record low a week after rate rise

Uganda’s shilling closed at Shs4,208.10 to the dollar, a record low, one week after the central bank raised its benchmark rate
A stack of Ugandan shilling banknotes—50,000, 20,000, 10,000, and 5,000—arranged in a currency counting machine.
Exchange rates

Shilling surrenders rate-hike gains as the dollar returns

Uganda’s shilling erased Wednesday’s gains by Friday, with the dollar back above its opening level on the day of the Bank of Uganda’s rate increase
An illustration for property, mortgages, bank loans and home savings. A model of a house sitting on architectural plans, with a blurred piggy bank in the background.
Explainer

What the Bank of Uganda’s rise to 12 per cent means for the shilling, fuel and loans

How the Bank of Uganda's increase in its policy rate to 12 per cent could affect the shilling, pump prices, and existing loans and savings
The Bank of Uganda's headquarters in Kampala

Bank of Uganda raises benchmark rate to 12 per cent at special meeting

Uganda’s central bank lifted its rate to 12 per cent, the largest increase since 2011, and raised its inflation forecasts as the shilling weakened
Trading screen showing a candlestick price chart that falls and then partly recovers, beside a list of share prices
Absa Africa Financial Markets Index

Uganda ranks fourth in Absa’s markets index, held back by pensions and depth

Uganda is the only one of 26 African countries scored in both years to lose ground in Absa's financial markets index since 2022, as Kenya and Ghana close in
Various currency notes of African countries are seen in this photo
Foreign exchange

Shilling opens past Shs4,150 as Bloomberg reports offshore selling of bonds

The shilling has lost 12.8 per cent this year, and Absa and Alpha Capital Partners name offshore selling, corporate dollar demand and energy costs

More Bank of Uganda

5 December 2025

Bank of Uganda

Michael Atingi-Ego’s keynote speech at the 6th National Content Conference

Bank of Uganda governor charts Uganda's path from $50bn to $500bn economy, anchored in oil-funded transformation and intergenerational equity

A man in a business suit delivers a speech from behind a lectern.
28 November 2025

Bank of Uganda

Bank of Uganda governor’s speech at the 2025 Kampala Blockchain Summit

Governor addresses stablecoin risks of monetary substitution and foreign exchange exposure, and outlines path from regulatory uncertainty to clear framework

Michael Atingi-Ego, governor of the Bank of Uganda, addresses the 2025 Kampala Blockchain Summit.
11 November 2025

Monetary Policy Statement

Bank of Uganda’s Monetary Policy Statement for November 2025: the full text

The central bank's decision reflects its confidence in the improving domestic economic environment, while also acknowledging the ongoing risks posed by the global economy

Bank of Uganda's headquarters in Kampala
13 August 2025

Bank of Uganda’s Monetary Policy Statement for August 2025 — Full text

On 12 August 2025, the Monetary Policy Committee of the Bank of Uganda maintained the Central Bank Rate at 9.75%, reflecting persistent global economic uncertainty and recurring geopolitical tensions

Michael Atingi-Ego, Bank of Uganda deputy governor, at a meeting at the bank's Kampala headquarters, February 2024.
12 August 2025

Central bank holds rates with wait-and-see guidance

The central bank hewed to expectations on Tuesday, keeping its benchmark rate unchanged citing “macroeconomic stability” resulting from coordination between monetary and fiscal policies

The head office of the Bank of Uganda in Kampala
3 August 2025

Annual Bankers’ Conference: Full text of the BoU governor’s speech on remittances

Remittance inflows have overtaken foreign aid and support from international institutions, such as the IMF and the World Bank, as well as from bilateral partners, to become Uganda's most reliable source of external financing

Street scene of a man waiting in line at a money transfer shop in London
16 July 2025

Remarks by BoU Governor at the National Private Sector Engagement Forum on climate finance

Climate change is a present and pressing reality; it is altering rainfall patterns, disrupting food systems, putting pressure on energy supplies, and affecting prices and financial system stability

A forest that has been devastated by deforestation, with most of the trees felled and strewn in a lifeless pile under a cloudy sky.
7 July 2025

Bank lending

Banks set to ease credit standards on business loans

Banks expect to ease lending standards in the quarter ending in September as loan performance improves for businesses and declines for households, and demand for credit from firms increases, according to a Bank of Uganda survey

Entrance to the personal banking section of a bank
1 June 2025

Remarks by the Bank of Uganda governor at the participating financial institutions award ceremony for the Agricultural Credit Facility and Small Business Recovery Fund

For a long time, many have questioned whether Uganda's smallholder farmers could access meaningful credit. Today, we have our answer: Shs1.12tn disbursed, 6,587 projects funded, and a non-performing loan rate of just 1 per cent — three times better than the banking industry average

Financial sector officials stand for a group picture at an awards ceremony
13 May 2025

Bank of Uganda’s Monetary Policy Statement for May 2025 — Full text

On 13 May 2025, the Bank of Uganda's Monetary Policy Committee (MPC) maintained the Central Bank Rate (CBR) at 9.75 per cent

Bank of Uganda headquarters in Kampala