Michael Atingi-Ego

A stack of Ugandan shilling banknotes—50,000, 20,000, 10,000, and 5,000—arranged in a currency counting machine.

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

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

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

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

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

Uganda urges local firms to prepare for oil production phase

Domestic enterprises face a narrowing window to position themselves for commercial opportunities as Uganda prepares to begin oil production in the second half of 2026

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

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

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

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

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

More Michael Atingi-Ego

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