FAMReports News Desk | December 2025
As 2025 draws to a close, the Bank of Uganda has reflected on a year marked by challenges and opportunities. From global financial tightening and geopolitical tensions to cyber risks and domestic reforms, the central bank confronted complex headwinds with discipline, transparency, and innovation.
Despite these pressures, key outcomes underscored Uganda’s economic resilience:
Inflation remained low, stable, and anchored.
Economic growth persisted across agriculture, industry, and services.
External buffers were rebuilt, reinforcing financial resilience.
The Uganda Shilling ranked among Africa’s most resilient currencies.
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The Bank of Uganda also modernised its financial architecture through initiatives such as Advanced Digital Supervision (SupTech), a Central Data Hub, and accelerated payments modernisation to improve interoperability. These steps are designed to broaden participation in government securities, mobilise domestic savings, reduce reliance on costly external borrowing, and enhance household financial resilience.
A pilot program, Okusevinga, currently involving 200 whitelisted participants, is testing functionality, security, and user experience. The long-term aim is to turn informal savings into productive investment, support pensions, channel remittances into investment, underpin credit, and deepen capital markets.
“Progress is not about perfection; it is about moving constructively forward,” the central bank leadership said. By combining disciplined policy with digital innovation, Uganda continues to build a more inclusive financial system that benefits smallholder farmers, urban youth, and households seeking stability.
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Uganda’s reforms have drawn international recognition. The country ranked third in Africa on the Absa Africa Financial Markets Index 2025, behind South Africa and Mauritius, highlighting confidence in the nation’s market discipline. Bank of Uganda officials were named among the world’s Top 25 Central Bank Governors by Global Finance magazine, reflecting collective achievement and commitment to sustainable economic management.
Looking ahead, the Bank of Uganda plans to further elevate capabilities by harnessing big data, artificial intelligence, and SupTech to enhance economic forecasting, risk assessment, and supervision. Innovation is no longer optional; it is now a prerequisite for central banking excellence.
Uganda’s 2025 experience demonstrates that even in challenging times, disciplined policy, technological adoption, and a focus on inclusion can transform constraints into opportunity.
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