Museveni Drops 22 Ministers in New Cabinet Reshuffle
President Yoweri Kaguta Museveni has unveiled a new Cabinet for the next five years, dropping at least 22 ministers in a sweeping reshuffle. In a statement, Museveni said the appointments were made in accordance with the Constitution of Uganda. “By virtue of the powers given to the President of Uganda
Pearl Bank posts Shs47b profit in first results since rebrand
Pearl Bank Uganda has reported strong financial results for the year ended December 31, 2025, posting a net profit of Shs47.3 billion in its first performance release since rebranding from PostBank Uganda. The results signal a solid start under the bank’s new identity, following shareholder approval of the name change
Gov’t Secures Shs 2.7 trillion Standard Chartered Loan for Infrastructure
Government has signed an agreement to borrow EUR 641.1 million (Shs 2.747 trillion) from Standard Chartered Bank to finance key infrastructure projects across the country. The agreement was signed by the Minister of Finance, Planning and Economic Development, Matia Kasaija, and Sanjay Rughani, the CEO and Head of Coverage, Uganda,
Uganda on Track for Middle-Income Status, Economic Growth Continues
The Permanent Secretary for the Ministry of Finance, Ramathan Ggoobi, has said that Uganda’s economy possesses all the key ingredients to create wealth and prosperity for all Ugandans. He noted that the various economic reforms implemented by the NRM Government over the years have laid a strong foundation for a
Inside $2.3 Billion U.S, Uganda Health Cooperation Agreement
The Government of the United States and the Government of Uganda have signed a five-year, $2.3 billion bilateral health cooperation Memorandum of Understanding (MOU) outlining a comprehensive vision to save lives, strengthen Uganda’s health system, and enhance America’s safety, prosperity, and global health leadership. The MOU advances the U.S.– Uganda bilateral
NSSF Declares 13.5% Interest Rate for Savers
Uganda’s National Social Security Fund [NSSF] savers will receive a 13.5 percent interest on their savings for the Financial Year 2024/25, following a declaration made by Finance Minister Matia Kasaija at the Fund’s 13th Annual Members’ Meeting held today. The announcement marks the highest interest rate in five years, reflecting
Inside Uganda , BADEA $150M Deal to Finance SMEs and Key Sectors
Arab Bank for Economic Development in Africa (BADEA) and the Government of Uganda have signed two Facility Agreements amounting to USD 150,000,000 (Shs 537.4 billion) to support private sector growth. The agreements have been signed by Abdullah Almusabeeh, BADEA President, and Matia Kasaija, Minister of Finance, Planning and Economic Development,
Gov’t Grants Tax Holiday to Start-Ups to spur growth
In a dramatic gesture hailed as bold and possibly useful, the Ugandan government has announced a three-year tax holiday for start-up businesses owned exclusively by Ugandan citizens provided they manage to survive the labyrinth of bureaucracy, unstable power supply, and regulatory whiplash. The announcement was made by Finance Minister Matia Kasaija
Uganda’s Debt shoots up Amid Increased Borrowing
Uganda’s public debt stock is expected to rise significantly in the 2025/26 financial year, Minister of Finance Matia Kasaija announced during the reading of the Shs 72 trillion national budget. According to Kasaija, the public debt is projected to reach USD 31.5 billion (Shs 116 trillion) by the end of
Uganda’s Economy Projected to Grow by 7% with Double-Digit Growth from Oil and Gas Production
Uganda’s economy is projected to grow by at least 7.0 percent in the 2025/26 financial year, and to achieve double-digit growth with the commencement of oil and gas production, according to Finance Minister Matia Kasaija. He made the announcement during the presentation of the Shs 72 trillion national budget for
