Uganda Revives Plan To Print Currency Locally

Kampala, August 28, 2026 - Uganda has revived plans to print currency and official documents locally, a proposal President Yoweri Museveni says could reduce spending on overseas printing and retain more value inside the domestic economy.

The plan returns more than four years after the death of former central bank governor Emmanuel Tumusiime-Mutebile, who had opposed the project. The Bank of Uganda previously raised concerns about the safety and integrity of materials that would be used.

Bank of Uganda Executive Director for Research Adam Mugume said the central bank would first phase out the Shs1,000 paper note before considering other denominations.

For investors, the proposal is relevant to public procurement, currency management, and institutional coordination between the presidency and central bank. Its implementation will depend on safeguards around security printing, cost control, and monetary credibility.