Christopher Burke

Burke says that while Uganda has made progress in reducing the cost of agricultural finance, millions of smallholder farmers remain locked out because they are invisible to formal lenders.

Agriculture contributes about 24 per cent of Uganda’s GDP, 35 per cent of export earnings and employs 68 per cent of the labour force, according to the World Bank’s latest Economic Update. However, many productive farmers remain almost invisible to formal finance.

A coffee farmer may have years of cooperative deliveries, a known plot, established trees and a credible production plan. The cooperative may know the farmer’s history, a buyer may hold payment records and an agricultural company may understand seasonal requirements. This information is often fragmented or unavailable to banks. The issue is not only whether information exists, but who verifies and standardises what determines access to capital.

This gap has a price. Bank of Uganda reports that the average agricultural lending rate reached 20.7 per cent in the three months to March 2026, above the overall average of 18.65 per cent. At those rates, seasonal borrowing is difficult even where an investment is commercially sound.

Government recognises the problem. The Agricultural Credit Facility (ACF), administered through participating financial institutions, financed 11,358 loans worth UGX1.35 trillion (US$366 million) by December 2025. Government has also established a UGX176 billion (US$48 million) scheme for large commercial farmers, while the national budget prioritises commercial agriculture and digital transformation.

The challenge is not only cheaper capital, but efficient delivery to farmers whose loans are small, seasonal and costly to assess. Public policy can reduce funding costs, but access depends on how market actors translate policy into workable lending standards.

The ACF figures illustrate the imbalance. Micro-enterprises represented 76 per cent of beneficiaries but received only 3 per cent of disbursed value. Large projects represented 6 per cent and received 90 per cent. This reflects the transaction costs of identifying farmers, verifying production, assessing cash flow and monitoring many small accounts.

A practical response is a proportionate farm-credit profile containing information needed for a lending decision: verified identity, farm location, cultivated area, production history, cooperative or buyer records, financing needs, insurance status and the expected source and timing of repayment.

These profiles do not replace appraisal or automatically substitute for collateral. They give banks a consistent reference point, reduce repeated data collection and help distinguish a functioning enterprise from an applicant about whom little can be verified. The profile represents a common interface through which stakeholders including institutions assess and manage risk.

Cooperatives are essential, but their responsibilities must be defined. They can confirm membership, aggregate applications, validate production and delivery records, support financial literacy and, where legally agreed, facilitate deductions from crop proceeds. Membership should not amount to an automatic guarantee, and cooperatives should not be expected to absorb losses arising from weak appraisal or inadequate monitoring.

Agricultural companies can support farm mapping, production information, input verification and agronomic advice, while insurers cover defined risks. Banks retain responsibility for due diligence, affordability assessment, pricing, disbursement, monitoring and recovery. This distributes governance functions among public, private and cooperative actors without removing accountability.

Bank of Uganda’s block allocation model demonstrates aggregation. During the final quarter of 2025, UGX5.04 billion (US$1.37 million) was disbursed to 1,156 micro-borrowers through loans not exceeding UGX20 million. The model allows lenders to assess clusters and use cash flow, movable assets, credit history and group guarantees rather than relying on titled land.

Women remain underrepresented in the ACF. In December 2025, they accounted for 23 per cent of beneficiaries and received only 3 per cent of disbursed value. Bank of Uganda reports stronger participation under block allocation, which permits consideration of cash flow, movable assets, credit history and group guarantees. This is important for women operating productive farms without formal land ownership.

Picture courtsey of OXFAM GB

Bank of Uganda estimates that at least 80 per cent of farmers lack conventionally bankable collateral. Regulators and banks should develop proportionate approaches to alternative security, seasonal cash-flow lending and cooperative verification while maintaining prudential standards.

Insurance is best integrated when a loan is designed. Under the Uganda Agriculture Insurance Scheme, government subsidises 50 per cent of premiums for small-scale farmers, 30 per cent for large farmers and 80 per cent in disaster-prone areas. The Ministry of Finance reported the annual UGX5 billion (US$1.36 million) allocation was inadequate and recommended UGX10 billion (US$2.72 million).

Insurance does not guarantee repayment, but it can prevent a defined weather event from causing an immediate default. Linking insurance, verified production information and seasonal repayment schedules makes risk more measurable and gives banks a stronger basis for pricing loans. Premium pricing and lending terms can therefore reward risk reduction without requiring a new legal mandate.

Digital technology can lower transaction costs, but more data is not automatically better. A farm profile is not neutral if it determines who becomes visible, insurable or creditworthy. Farmers must know what is collected, why, who can access it and how errors can be corrected.  Any system must comply with Uganda’s data-protection framework, apply informed consent and restrict information sharing to legitimate purposes.

Uganda’s Fourth National Development Plan links agro-industrialisation with science, technology and innovation. Agricultural finance is an obvious place to apply this direction. The priority should not be another stand-alone application or pilot database, but trusted arrangements through which banks, cooperatives, insurers and agricultural businesses use verified information responsibly. The state sets policy and prudential boundaries, while market actors operationalise them through lending, insurance and data standards.

The case is strengthened by the ACF’s reported non-performing asset ratio of 0.57 per cent at December 2025, compared with 3.7 per cent across commercial banks. Agricultural lending is not inherently unmanageable. It performs better when capital, information, technical support, insurance and repayment structures are aligned.

Uganda has begun lowering agricultural capital costs. The next priority is to reduce the cost of identifying, evaluating and financing credible farmers. This missing infrastructure may determine whether affordable finance reaches viable enterprises at scale or remains concentrated among borrowers already visible to banks. It also shows how public objectives can be implemented through market-based systems that coordinate behaviour, allocate responsibility and shape access to essential resources.

Christopher Burke is a senior advisor at WMC Africa, a communications and advisory agency located in Kampala, Uganda. With over 30 years of experience, he has worked extensively on social, political and economic development issues focused on governance, agriculture, environment, extractives, policy formulation, communications, advocacy, conflict transformation, international relations and peace-building in Asia and Africa.

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A coalition of Ugandan civil society organisations has launched a new campaign calling for debt justice, arguing that rising debt obligations are increasingly squeezing public spending on healthcare, education, agriculture and social protection while exposing deeper inequalities in the global financial system.

The Freedom from Debt Campaign, launched by the Civil Society Budget Advocacy Group (CSBAG) in partnership with AHF Uganda Cares, SEATINI Uganda and the Uganda Debt Network, brings Uganda into a broader African movement seeking reforms in both domestic debt management and the international lending architecture.

Campaigners say the initiative comes at a critical moment for Uganda, whose public debt is projected to reach approximately UGX130 trillion in the 2026/27 financial year, while debt servicing obligations are expected to exceed UGX33.6 trillion or 40pc of budget allocations.

According to the coalition, debt servicing is increasingly competing with investments in sectors that directly affect citizens’ welfare.

“This is not merely a debt crisis; it is a development crisis,” CSBAG says. “Every dollar spent servicing unsustainable debt is a dollar unavailable for medicines in hospitals, classrooms for children, agricultural support for farmers, climate adaptation, infrastructure development, social protection, and job creation for young people.”

The campaign is being launched against the backdrop of what activists describe as an unprecedented global debt burden.

According to figures cited by CSBAG, global public debt reached USD102 trillion in 2024, while developing countries spent more than USD1.4 trillion servicing external debt during the same period.

Africa has been particularly affected. The continent’s external debt now exceeds USD650 billion, with annual debt servicing costs estimated at nearly USD90 billion.

More than 25 African countries spend more on debt repayments than on healthcare according to CSBAG.

For Uganda, campaigners argue that while the country is not yet classified as being in debt distress, the rapid growth in debt obligations raises serious concerns about fiscal sustainability and the state’s ability to finance essential services.

Debt servicing is projected to consume nearly 40 percent of domestic revenue collections in the coming financial year.

Campaign leaders were careful to stress that they are not opposed to borrowing itself.

“The campaign is not against borrowing. It is a call for social justice, equity, responsible borrowing, transparency, accountability and prudent debt management,” said Henry Magala, Country Director of AHF Uganda Cares.

Magala noted that debt can remain an important development tool if managed properly and directed toward productive investments that generate measurable returns for citizens.

He argued that borrowed resources must translate into tangible improvements in healthcare, education, agriculture, social protection and employment creation.

CSBAG Executive Director Julius Mukunda echoed the same position but questioned the fairness of current lending arrangements facing developing countries.

“If you are borrowing externally at 8pc, and the same market is providing loans to other countries at less than 3pc, that is already unfair for a country like Uganda,” Mukunda said.

“We want a better market where if Uganda goes to borrow, it can borrow under almost the same terms as other countries. That is very critical.”

Mukunda added that debt should be directed toward productive investments that improve living standards.

“We can reduce debt dependence by ensuring that the current debt we have acquired delivers the things we want,” he said.

Beyond the size of Uganda’s debt burden, the campaign highlights concerns over how borrowed funds are utilised.

Campaigners point to repeated findings by the Auditor General showing project delays, low loan absorption rates, cost overruns and weak implementation of debt-financed projects.

According to the coalition, Uganda paid approximately UGX73.9 billion in commitment fees on undisbursed external loans during the 2023/24 financial year.

The campaign argues that the challenge is therefore not simply how much government borrows, but whether borrowed resources generate sufficient economic and social returns.

“Debt should finance roads, hospitals, schools, irrigation systems, energy infrastructure, and productive investments that transform livelihoods,” CSBAG says. “It should not finance inefficiencies, avoidable delays, and poor project management.”

The coalition is also calling for greater transparency around borrowing decisions, including public access to loan agreements, debt sustainability assessments and project performance reports.

A central pillar of the campaign is the concept of “debt justice” — the idea that responsibility for the debt crisis does not rest solely with borrowing governments.

Campaigners argue that developing countries face disproportionately high borrowing costs, limited access to concessional financing and debt restructuring mechanisms that are often heavily influenced by creditor interests.

“Debt Justice requires accountability from both borrowers and lenders,” the campaign argues.

The coalition says African countries frequently borrow to respond to climate-related disasters, food insecurity and public health emergencies despite contributing little to the causes of those crises.

“Africa should not have to choose between paying creditors and achieving development,” the campaign declares. “Development must come before debt.”

Among the reforms being advocated are the establishment of a Borrowers’ Forum to strengthen collective bargaining power among debtor nations, automatic debt-service pauses during public health emergencies and climate disasters, and expanded debt-for-development swaps that redirect repayment resources into healthcare, education and infrastructure.

The campaign is also supporting proposals for a one percent global artificial intelligence capital levy dedicated to debt relief and financing essential public goods.

At its core, organisers say, the Freedom from Debt Campaign seeks to place citizens at the centre of debt governance.

Public debt, they argue, ultimately creates obligations that are borne by taxpayers and future generations, making transparency and public participation essential.

The coalition plans to conduct debt sustainability research, monitor debt-financed projects, produce citizen-friendly debt information and engage Parliament on debt oversight.

“We believe that debt should be a tool for development rather than a barrier to development,” the campaign states.

As Uganda’s debt trajectory continues to climb, campaigners hope the initiative will shift public debate away from abstract fiscal statistics and toward the real-world consequences of borrowing decisions.

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The Bank of Uganda (BoU) has announced sweeping changes to cheque transaction limits and over-the-counter (OTC) cash withdrawals as part of its strategy to accelerate the country’s transition towards a digital-first financial system.

In a circular dated May 29, 2026, and addressed to chief executives of commercial banks, credit institutions and microfinance deposit-taking institutions, the central bank said it would significantly reduce interbank cheque value limits while introducing new caps on cash withdrawals conducted at banking halls.

According to the directive, the maximum value for interbank cheques denominated in Uganda shillings will be reduced by half, from UGX 10 million to UGX 5 million. Similar reductions have been applied to foreign currency cheques, with limits for US dollar, Euro, Pound Sterling and Kenyan Shilling transactions also cut by 50 percent.

The Bank of Uganda said the measures are aligned with its e-payments strategy and broader national digitalisation agenda, which seeks to promote a cash-lite economy and encourage greater use of secure electronic payment channels.

“These interventions align with our strategic commitment to fostering a modern, digital-first financial landscape by encouraging a shift from traditional paper-based instruments to secure electronic channels,” the circular states.

The new framework also introduces cash withdrawal limits for customers accessing funds directly from bank counters. Individual account holders will be restricted to daily cash withdrawals of UGX 50 million and weekly withdrawals of UGX 250 million. Corporate and business accounts will face daily limits of UGX 500 million and weekly caps of UGX 2.5 billion.

Industry observers say the move reflects growing efforts by regulators to reduce the costs and risks associated with cash handling while increasing the adoption of electronic transfers, mobile money, real-time payments and other digital financial services.

The central bank has provided a transition period before implementation. The revised cheque limits and cash withdrawal caps will take effect on January 1, 2027, allowing banks and customers time to adjust and clear existing instruments.

The reforms are expected to have significant implications for businesses that still rely heavily on cheque payments and large cash transactions, while potentially accelerating Uganda’s shift towards a more digitised payments ecosystem.

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“The MPC assessed that inflation could rise moderately during the second half of2026 before stabilizing around the medium-term target. However, uncertainty remains unusually elevated, with a wide range of possible outcomes depending on the duration of the conflict, implying that monetary policy needs to remain agile and responsive,” he said.

He said, “Against this backdrop, the MPC judged it appropriate to maintain the CNBR at 9.75 percent as it continues to assess developments in the global economic environment.”

Atingi-Ego said monetary policy remains focused on mitigating the impact of the current fuel price increase on inflation, while supporting the economy’s adjustment to global headwinds. The CBR has been at 9.75% for well over a year.

However commercial banks have been directed have more cash available at hand. “To contain liquidity conditions in the banking system while ensuring that inflation expectations remain anchored around the medium-term target, the Bank of Uganda increased the Cash Reserve Requirement (CRR) to 11 pc from the 9.5 percent in March 2026.”

CRR is a key monetary policy tool used to manage banking system liquidity, control inflation, and ensure banks can meet customer withdrawals.

Over the 2 months to April 22026, inflation remained below the medium-term target of five percent, reflecting the continued effectiveness of monetary policy. According to an MPC statement, Annual headline and core inflation averaged 3.4 percent and 3.5 percent respectively. However, the conflict in the Middle East has resulted in significantly higher global oil prices and heightened uncertainty surrounding the economic outlook.

Although the Uganda economy continues to face challenges arising from global developments and geopolitical uncertainty, it remains on an upward trajectory. Real economic growth strengthened in the first half of FY20225/226, supported by broad-based improvements across the agriculture, industry and services sectors. During the first two quarters of 2025/2026, economic activity expanded at a pace consistent with the current potential growth, averaging 6.7 percent.

The forecast for GDP growth in FY2026/2027 remains broadly unchanged from the February 2026 projection round. While the conflict in the Middle East could alter the sectoral composition of growth, higher global oil prices, in particular, could increase the value of Uganda’s oil exports even as they place pressure on household consumption and business costs.

Over the medium term, economic growth is projected to average around eight percent, supported by stronger export growth and increased business investment.

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According to a EAC Secretariat press release, the meeting brought together representatives from key stakeholder institutions, including Ministries of Finance, Central Banks, the Capital Markets Authorities, Securities Exchanges, and Secretariat staff.

In his opening remarks, Dr. Moise Bigirimana, Executive Director, Financial Sector Conduct and Development, National Bank of Rwanda (BNR), said the cross-border trading initiative remains a key pillar in advancing regional financial integration and deepening EAC capital markets.

Dr. Bigirimana said, “A coordinated regional approach is essential for the successful implementation of cross-border trading of government securities. I urge Partner States to fully implement the Council Directives within their national legal and regulatory frameworks. Institutions should also align their internal processes to support cross-border trading, while the Regional Technical Working Group should continue to serve as a platform for peer learning and knowledge sharing.”

The regional experts had previously met to identify key pillars necessary to support cross-border trading of government securities. These pillars included the development of appropriate market infrastructure and the adoption of a regional trading model. The Kigali meeting assessed whether existing EAC Council Directives on Securities Markets adequately support these earlier proposals.

Speaking during the meeting, the Chairperson, Dickson Ssembuya, Director of Research and Market Development, Capital Markets Authority, Uganda, emphasised the importance of strengthening regional capital market integration and aligning EAC securities markets with global standards.

He said, “The free movement of capital, as provided for under the EAC Common Market Protocol, remains one of the most important commitments made by Partner States to citizens and investors. As we advance regional integration, it is essential that our discussions are guided by international best practices. Many of the challenges we face in integrating our securities markets are not unique to the EAC, and we can learn valuable lessons from other regional blocs that have successfully implemented similar reforms.”

The EAC Council Directives on Securities Markets, gazetted in Partner States between 2015 and 2017, were introduced to harmonise rules and procedures across EAC securities markets. However, given the passage of time, there is a need to review the directives to reflect market developments, technological advancements, and international best practices.

Harmonisation of rules and regulations through Council Directives is critical to facilitating the free movement of goods, services, and capital within the region, as provided for under the Protocol on the Establishment of the East African Community Common Market.

During the meeting, the Regional Technical and Legal Working Group undertook a comprehensive review of several key Council Directives critical to the development of integrated regional securities markets. These included directives relating to Admission to Trading on a Secondary Exchange; Public Offers (Debt) in the Securities Market; Regional Listings in the Securities Market; Central Securities Depositories (CSDs); and Securities Exchanges.

The review generated recommendations aimed at improving legal clarity, strengthening regulatory alignment, harmonising market practices, and accelerating the integration of EAC capital markets.

As next steps, the Technical Working Group will submit its observations and recommendations to the EAC Monetary Affairs Committee (MAC), the Committee on Fiscal Affairs (CFA), and the Capital Markets, Insurance and Pensions Committee (CMIPC) for consideration.

Once amendments to the Council Directives are approved, the EAC Secretariat will work closely with Partner States to support their implementation, with the ultimate goal of enabling efficient cross-border trading of government securities across the region.

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In the run-up to event which will involve some 300 participants, Kamil Alawadhi, IATA’s Regional Vice President for Africa and the Middle East said, “Aviation has the potential to do much more to enable Africa’s economic and social development. Improving safety, harmonizing regulations, and reducing costs while increasing operational efficiency are at the top of the agenda for this edition of the IATA Focus Africa Conference.”

He said, “The demand to support a three to four percent growth annually is there. Focus Africa aims to align the continent’s aviation stakeholders in taking the pragmatic steps needed to turn potential into a sustainable reality.”

This year’s theme ‘Elevating Aviation Safety, Connectivity, and Operational Efficiency in Africa’ reflects a shared mission to transform challenges into opportunities and build a resilient, future-ready aviation ecosystem across the continent.

Discussions will revolve around other key themes including Safety Enhancement, specifically strengthening safety standards and oversight to ensure secure skies for all.

Also Stronger Connectivity in terms of boosting intra-African routes, harmonizing regulations, and supporting the Single African Air Transport Market (SAATM).

Participants will discuss how to aim for Efficient Operations in streamlining processes, embracing digital innovation, and improving cost-effectiveness across the value chain.

Ethiopian Airlines hosted the inaugural Focus Africa Conference in 2023. Since then, IATA’s Focus Africa initiative has led several key developments for African aviation. These include support for the roll-out of Advance Passenger Information (API) for identity and Passenger Name Record (PNR) programs in 12 African countries, numerous safety initiatives across the region.

There were also new settlement operations in Sierra Leone and South Sudan (BSP) and in Ghana and Ivory Coast (CASS). The introduction of the IATA Easy Pay in Cameroon, Chad, Gabon, Congo, Mauritius, and Sierra Leone, where market development has been hindered by limited payment options for agents and cash flow challenges for airlines, has also eased operational bottlenecks.

The Addis conference will take stock of these and other advancements while identifying the critical next steps in the development of Africa’s aviation sector.

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Six weeks into the ongoing conflict involving the United States, Israel and Iran that has disrupted global crude and refined petroleum supply chains, Uganda is emerging with significantly lower pump prices than its regional peers.

The development comes as the Uganda National oil Company (UNOC), announced Tuesday, that a new consignment of petroleum products including 119 million litres of  petrol, had landed at Mombasa, further allaying emerging jitters in the market. UNOC, said petroleum product supply remains secure and sufficient to meet national demand.

Latest regional pricing data shared on X (formerly Twitter) by the Money Academy Kenya, shows Uganda’s fuel prices now sit comfortably below most East African markets when denominated in Kenyan shillings:

• Kenya: Petrol Sh206 | Diesel Sh206
• Uganda: Petrol Sh184 | Diesel Sh177
• Rwanda: Petrol Sh204 | Diesel Sh195
• Tanzania: Petrol Sh190 | Diesel Sh189
• Ethiopia: Petrol Sh118 | Diesel Sh135

The price gap, particularly with Kenya, is now being cited as early validation of Uganda’s controversial decision to restructure its fuel import system by sidelining private oil marketing companies from direct procurement.

Under the new model, all fuel imports are handled centrally by the Uganda National Oil Company (UNOC), which has contracted global energy trader Vitol to manage supply.

The shift, implemented earlier this year, effectively removed intermediaries that previously sourced fuel through Kenyan supply chains—cutting out multiple layers of mark-ups that had long inflated pump prices.

Uganda’s relative price stability is being attributed to two key policy shifts: centralised procurement and a differentiated tax regime.

By consolidating imports under UNOC, the government has introduced a more controlled pricing framework, where local oil marketing companies now purchase fuel domestically rather than navigating complex regional supply chains.

This has significantly reduced exposure to price distortions linked to transit, brokerage, and foreign exchange layers—costs that are often passed on to consumers.

Equally important is Uganda’s tax structure. Unlike Kenya, which applies Value Added Tax (VAT) on fuel, Uganda does not levy VAT. Instead, it relies on excise duty, which can be adjusted periodically rather than rising automatically.

This gives policymakers greater flexibility to cushion consumers during periods of global price volatility—such as the current disruptions triggered by tensions in the Middle East.

The pricing divergence is likely to reignite debate over fuel taxation and supply chain structures across East Africa.

Kenya’s liberalised system, while competitive in theory, has increasingly come under scrutiny for exposing consumers to higher and more volatile prices, particularly during global shocks.

Uganda’s model, by contrast, reflects a more interventionist approach—one that prioritises price stability and supply security, even at the cost of reduced private sector participation in procurement.

Analysts say the current crisis offers a real-world stress test of both systems. Global fuel markets have been unsettled by supply uncertainties linked to the conflict involving the United States, Israel and Iran, with concerns over potential disruptions to key shipping routes and refining capacity.

In such an environment, countries with streamlined procurement systems and flexible tax policies are better positioned to absorb shocks.

Uganda’s ability to maintain relatively lower pump prices suggests that reducing inefficiencies within the supply chain can be as important as managing global price exposure.

However, questions remain about the long-term sustainability of the model.

Centralized procurement places significant operational responsibility on UNOC, raising concerns about the risks associated with reliance on a single supplier.

There are also broader considerations around market competition and whether reduced private sector involvement could have unintended consequences over time.

Still, in the short term, the results clearly show that Uganda’s fuel pricing reforms are delivering measurable benefits at the pump.

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Civil society organisations have raised concerns over Uganda’s proposed tax measures for the 2026/27 financial year, warning that an overreliance on indirect taxes could raise the cost of living, slow economic activity, and disproportionately affect low-income households.

Presenting their analysis at a breakfast meeting in Kampala on April 10, stakeholders under the Civil Society Budget Advocacy Group (CSBAG) said while some proposals improve fairness, others risk undermining gains by increasing pressure on consumers and key sectors of the economy.

CSBAG welcomed the government’s proposal to raise the Pay As You Earn (PAYE) threshold from UGX 235,000 to UGX 335,000 per month, noting that it would increase disposable income for low-wage earners and make the tax system more equitable. However, the group argued that these gains could be offset by higher indirect taxes on essential goods and services.

Among the most contentious proposals is the increase in excise duty on sugar from UGX 100 to UGX 300 per kilogram, alongside a UGX 200 per litre hike on petrol and diesel. Civil society actors warn that these adjustments will likely cascade through the economy, raising transport costs and pushing up prices of basic commodities.

The planned doubling of excise duty on cement—from UGX 500 to UGX 1,000 per 50kg bag—has also drawn criticism, with CSBAG cautioning that it could further strain Uganda’s already constrained housing sector. Rising construction costs, they argue, could slow down building activity and worsen housing affordability.

Similarly, the proposal to increase the surcharge on imported second-hand clothes to 30 percent is seen as potentially disruptive. While intended to support domestic textile manufacturing, CSOs warn that the move could shrink supply in a market still heavily dependent on imports, leading to higher prices before local production capacity can fill the gap.

On the digital economy front, civil society groups expressed support for the introduction of a uniform 0.25 percent levy on cash withdrawals across the financial system. This would effectively reduce the current 0.5 percent charge on mobile money transactions while broadening the tax base to include other platforms.

They argue that although the lower rate may reduce revenue in the short term, expanding the tax net could drive long-term gains, with transaction values projected to double over the medium term. However, they stressed that this reform should be complemented by removing import duties on entry-level smartphones to accelerate digital inclusion and economic activity.

CSBAG Executive Director Julius Mukunda criticised the broader tax strategy for focusing on increasing rates within an already narrow tax base instead of significantly expanding it.

Civil society organisations further warned that continued tax exemptions in some sectors undermine revenue mobilisation efforts, effectively shifting the burden onto ordinary taxpayers. At the same time, they noted that targeted “sin taxes” and improved enforcement could boost revenue while supporting public health objectives if carefully implemented.

Ultimately, the groups say the central challenge for policymakers is balancing revenue mobilisation with fairness and economic growth. Without adequate safeguards, they caution, the current proposals risk widening inequality and slowing Uganda’s post-pandemic recovery.

“The key question is whether Uganda can balance revenue collection with fairness and economic growth?” Mukunda observed.  “A more sustainable path may lie in widening the tax base, improving compliance, and protecting low-income households.”

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A new partnership between UN Women and Equity Bank Uganda is bringing renewed focus on the distance between financial access and meaningful economic participation for women; a persistent gap in Uganda’s growth story.

Signed this week in Kampala, the two-year collaboration running from April 2026–March 2028, is designed to expand women’s access to financial services while pairing that access with skills, enterprise support and clean energy financing. The initiative will target underserved groups, including women in refugee-hosting communities, where economic vulnerability is often most acute.

At one level, the partnership plays on the familiar development template of providing credit, training and market access. But its structure also signals a more deliberate shift toward tackling the layered nature of financial exclusion, where access alone has often proved insufficient.

“This partnership reflects our shared commitment to ensuring that women—especially those in underserved and vulnerable communities—have the tools, resources, and opportunities to thrive economically,” said Adekemi Ndieli, UN Women Deputy Country Representative in Uganda. “By working together, we can accelerate progress toward inclusive growth and sustainable development.”

The emphasis on combining finance with capability—financial literacy, digital skills and entrepreneurship training reinforces a growing recognition among policymakers and lenders that traditional banking models have struggled to fully integrate women operating in informal and rural economies.

For Equity Bank Uganda, the partnership dovetails into the lenders social agenda that has for long approached inclusion, less as a compliance obligation and more as a growth frontier.

“Equity Bank Uganda is proud to partner with UN Women to dismantle barriers that prevent women from achieving economic autonomy,” said Equity Bank Uganda Managing Director Gift Shoko. “Our commitment goes beyond financial products; we are offering training, digital literacy and clean energy solutions to ensure women can compete and succeed in today’s economy.”

Uganda’s financial inclusion rates have improved in recent years, driven by mobile money and agency banking. Yet disparities remain pronounced, particularly for women in agriculture and informal trade, where access to credit, markets and formal financial tools remains uneven.

The partnership’s focus on women-led agribusinesses and cooperatives points to an attempt to bridge that gap by linking finance to productive sectors where women are already dominant but undercapitalised.

UN Women will provide technical expertise, community mobilization, and policy support, while Equity Bank Uganda will offer tailored financial products, training and advisory services. The partnership will be implemented through a jointly developed work plan with clear targets and measurable impact.

According to the partners, the initiatives implemented under this pact are expected to benefit thousands of women across Uganda by enabling them to access inclusive financial services, expand their economic opportunities, and strengthen their capacity to contribute to inclusive and sustainable development. This includes supporting women’s participation in national and regional markets under the African Continental Free Trade Area (AfCFTA), which has the potential to unlock greater market access, scale women led enterprises, and amplify women’s role as drivers of regional economic growth.

By aligning with opportunities under the African Continental Free Trade Area, the initiative positions women not just as local entrepreneurs but as potential participants in cross-border trade—an area where scale and competitiveness have historically been constrained by limited access to finance and information.

Equally notable is the integration of clean energy financing into the programme. For many low-income households and small enterprises, energy access remains a critical bottleneck, affecting productivity and costs. Linking financing to energy solutions could, analysts say, unlock incremental gains in both household welfare and business performance.

Shoko framed the effort in broader economic terms: “We believe inclusive finance is the foundation of inclusive growth. Together, we will empower women to transform their enterprises and their communities.”

For development actors, that framing underscores a 360-degree shift from viewing women as beneficiaries of inclusion to recognising them as drivers of economic expansion.

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Airports worldwide are facing a new headache as operational bottlenecks persist despite billions being invested in expanding terminals, runways and gates. Global aviation IT provider SITA, says the disconnect points to a deeper structural challenge within modern airport ecosystems, where performance is increasingly shaped not by physical capacity but by how effectively operations are coordinated across stakeholders and systems.

In a new whitepaper, SITA suggests that the problem lies less in physical capacity and more in how effectively airport systems and stakeholders work together.

The report argues that airport performance is increasingly constrained by fragmented decision-making rather than infrastructure gaps. As passenger traffic grows and airport ecosystems become more complex, misaligned operations across airlines, ground handlers, security, and air traffic control are emerging as the primary source of inefficiency.

At the core of the analysis is the concept of Total Airport Management (TAM)—a model that integrates real-time data, predictive analytics and coordinated decision-making across all operational stakeholders. Rather than optimising isolated processes such as check-in or boarding, TAM seeks to align the entire system, enabling earlier responses to disruptions and more efficient use of existing infrastructure.

This shift comes at a time when disruption remains widespread. Data from AirHelp indicates that nearly a quarter of global passengers experienced delays or cancellations in the first half of 2025, underscoring how operational breakdowns ripple across interconnected systems.

The whitepaper identifies three structural challenges that continue to undermine airport performance.

First, siloed performance metrics create unintended consequences. When departments focus narrowly on their own key performance indicators—whether in security, check-in, or gate operations—delays are often pushed downstream rather than resolved. A backlog at security, for example, may simply shift congestion to boarding gates, amplifying disruption across the network.

Second, visibility without coordination limits impact. While many airports now operate sophisticated control rooms and dashboards, simply observing real-time data does not automatically translate into better decisions. Performance improves when stakeholders act on a shared operational picture, supported by predictive insights that anticipate how situations will evolve.

This principle underpins Airport Collaborative Decision Making (A-CDM), a framework promoted by organizations such as Airports Council International, International Air Transport Association, International Civil Aviation Organization and Civil Air Navigation Services Organisation. By aligning stakeholders around shared data and objectives, A-CDM has become a global benchmark for improving operational efficiency.

Third, digital transformation must coexist with live operations. Airports cannot simply replace legacy systems that underpin daily activity. Instead, the report advocates layering intelligent coordination tools on top of existing infrastructure—creating a “single source of truth” that enables better planning, faster decision-making and more effective resource allocation.

Case study in coordination

The approach is already being tested in practice. In Abu Dhabi, a shared operational data platform integrates inputs from airlines, ground handlers, air traffic control and government agencies. By aligning decisions earlier in the operational cycle, the system aims to strengthen resilience, improve on-time performance and support long-term growth without requiring immediate physical expansion.

Industry executives say the implications are significant. Rather than relying solely on costly infrastructure projects, airports could unlock “hidden capacity” by improving coordination—reducing delays and smoothing passenger flows using existing assets.

The findings reflect a broader shift in aviation strategy. As demand recovers and expands, particularly in emerging markets, airports are under pressure to handle higher volumes without proportionate increases in cost or footprint.

According to SITA, the key lies in anticipating disruptions before they escalate. Predictive analytics can identify pressure points—such as incoming delays, congestion risks or staffing constraints—allowing operators to intervene earlier and prevent cascading effects across the system.

The message for airport operators is clear: infrastructure investment remains necessary, but it is no longer sufficient. Performance gains will increasingly depend on how well airports function as integrated systems rather than collections of independent units.

For passengers, the outcome could be fewer delays, smoother connections and more reliable journeys. For the industry, it signals a recalibration of priorities, where digital coordination becomes as critical as physical expansion.

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