Uganda’s financial landscape is a vibrant yet complex mix of fintech innovation, cautious monetary policy, and ambitious economic goals. From the bustling markets of Kampala to the rural fields in the north, the nation finds itself at a pivotal moment poised for growth while navigating challenges that test its resilience.

At the forefront of this financial evolution is the fintech sector, driven by the remarkable success of mobile money. Platforms like MTN Mobile Money and Airtel Money have transformed basic phones into powerful financial tools, reaching millions who were previously excluded from traditional banking services. By 2025, mobile money transactions have outpaced the formal economy, accounting for over 90% of GDP. This phenomenon extends beyond mere cash transfers; partnerships with banks have resulted in micro-loans and digital savings accounts, empowering individuals such as a boda boda driver in Kampala to repair his motorcycle or a savings group in Masaka to secure its funds. Additionally, new fintech players are emerging, offering asset financing and digital platforms for community savings, creating a diverse and thriving ecosystem. This boom, celebrated widely on March 6, reflects a surge in digital transactions fueled by expanding mobile networks and a push towards digitalization that is reshaping how Ugandans live and work.

However, this fintech flourish unfolds against a backdrop of stringent monetary policy. The Bank of Uganda has maintained its key lending rate at 10% since February 6, 2025, a decision made with caution in light of global uncertainties such as volatile oil prices and supply chain disruptions. The Uganda Economic Update report characterizes 2023/24 as a challenging year for businesses, with tight policy driving up borrowing costs and limiting access to credit. Core inflation, which reached 4.2% in January 2025 and is projected to remain between 4% and 5% this year, reinforces this cautious approach keeping prices in check but leaving businesses struggling with high loan costs. As of March 6, no changes to the interest rate have been reported, suggesting a continuation of this stability. While it offers predictability, it also provides little relief. Businesses ranging from small traders to manufacturers face a difficult choice: reduce operations or pass increased costs onto consumers, a trend evidenced by six consecutive months of rising output charges.

The Uganda Economic Update report provides a broader perspective on this landscape. It estimates that growth for FY23/24 will be 6%, up from 5.3%, driven by a rebound in agriculture, oil-related construction, and a services sector buoyed by telecommunications and trade. Industry and services lead the way, contributing 25% and 44% to GDP, respectively, while agriculture despite employing the majority of Ugandans continues to contend with climate-related challenges. Looking ahead, growth is projected at 6.2% for FY24/25, potentially reaching 7% as oil production begins later in the year. This aligns with an ambitious vision to achieve a $59.3 billion economy by June 2025, as targeted earlier this year. Yet, risks remain: high debt levels, weak domestic revenue, and poverty still affecting 40% of the population pose threats to this trajectory.

The financial system has shown resilience. A cybersecurity breach in February 2025 resulted in the theft of $21 million from the central bank, revealing vulnerabilities, yet fintech’s decentralized structure ensured that mobile money transactions continued uninterrupted. Currently, no major financial crises dominate the news cycle, although the repercussions of that breach may still be felt. At the same time, the private sector is showing signs of recovery, with improved business conditions reported on March 6, a potential nod to the buoyancy of fintech and the stability of monetary policy.

Uganda’s financial landscape in 2025 presents a study in contrasts. Mobile money and fintech innovations are rewriting the rules, driving financial inclusion and economic activity at an unprecedented pace. Nonetheless, tight monetary policy and structural challenges such as gaps in rural connectivity and high borrowing costs temper this progress, requiring resilience from both businesses and citizens. With oil production on the horizon and a youthful population eager for opportunities, the nation stands at a crossroads between promise and peril. As March 6 unfolds, Uganda is a country in motion, stable and growing, yet ever vigilant of the challenges that could tip the balance.

The Uganda Police Force has released the Annual Crime Report 2024, providing an in-depth analysis of crime trends across the country. The report highlights notable changes in various crime categories, including theft, economic crimes, road safety offences, fires, child-related crimes, and more. Below are the key findings:

Theft Cases Decline

The report reveals a 6.6% decrease in theft cases, with 61,529 cases registered in 2024 compared to 65,901 in 2023. Theft remains a significant crime category, accounting for 28% of all reported cases.

Crime Rate per 100,000 People

Statistics indicate that out of every 100,000 people, 476 were victims of crime. The judicial process for these cases resulted in:

• 26,328 cases not detected or not submitted
• 1,510 acquittals
• 43,579 cases pending in court
• 119,939 cases submitted to the RSA/DPP
• 90,663 cases under inquiry
• 10,333 cases dismissed

Rise in Economic and Corruption Crimes

Economic and corruption-related crimes increased by 1.6%, with 13,132 cases reported in 2024 compared to 12,924 in 2023. The trend over recent years shows fluctuations:

• 2022: 13,202 cases
• 2023: 12,924 cases
• 2024: 13,132 cases

Improved Road Safety

The Directorate of Traffic and Road Safety recorded a 19.2% decrease in common traffic offences, with 426,432 cases reported in 2024 compared to 528,025 in 2023. This marks a positive trend following the figures from previous years:

• 2022: 456,993 cases
• 2023: 528,025 cases
• 2024: 426,432 cases

Increase in Fire Incidents

Fire-related incidents rose by 13.8%, with 1,280 cases reported in 2024 compared to 1,104 in 2023. The report further details the handling of these incidents:

• 1,150 cases successfully handled
• 120 cases managed before arrival
• 10 cases found to be false or fictitious

Notably, 67% of fires were reported between 06:00 and 12:00 hours, while 33% occurred between 00:01 and 06:00 hours.

Decrease in Child-Related Offences

Child-related crimes saw a significant 12.4% decrease, with 9,408 cases reported in 2024 compared to 10,741 in 2023. The trend over the years indicates an overall decline:

• 2022: 13,489 cases
• 2023: 10,741 cases
• 2024: 9,408 cases

Reduction in Threatening Violence Cases

Threatening violence cases declined by 4%, with 10,160 cases reported in 2024 compared to 10,591 in 2023. The numbers remained steady between 2022 and 2023 before the recent drop:

• 2022: 10,591 cases
• 2023: 10,591 cases
• 2024: 10,160 cases

Decrease in Breakings

Cases of breaking and entering fell by 7.1%, with 13,511 cases reported in 2024 compared to 14,543 in 2023. This crime category accounted for 6.2% of all crimes recorded in the year.

The 2024 Annual Crime Report presents a mixed outlook on Uganda’s crime trends. While theft, child-related crimes, and traffic offences have decreased, economic crimes and fire incidents have seen an uptick. The report serves as a crucial tool for law enforcement agencies and policymakers in shaping strategies to further enhance public safety and crime prevention.

Source: Uganda Police Force Annual Crime Report 2024
#ACR2024

African leaders, particularly those from Uganda, can draw several key lessons from the February 28, 2025, meeting between Trump and Zelenskyy. These lessons can be applied to both domestic governance and international relations:

The Importance of Diplomacy and Respect in High-Level Talks
Lesson: In diplomatic engagements, especially in high-stakes meetings with international partners, respect and tact are crucial. The confrontation between Trump and Zelenskyy escalated due to a breakdown in mutual respect, with both leaders challenging each other’s approaches and values. Uganda’s leaders should recognize that regardless of disagreements, maintaining respect for differing views is essential for keeping diplomatic channels open.
Application: When engaging with global powers or other African nations, Ugandan leaders should prioritize respectful dialogue to avoid damaging relationships. Their approach should be rooted in mutual understanding, particularly during disagreements.

Balancing National Interests with Global Alliances
Lesson: Trump’s focus on U.S. interests, particularly regarding Ukraine’s rare minerals, contrasted with Zelenskyy’s emphasis on military support. This illustrates how national priorities can clash with international expectations. Uganda can learn that focusing solely on national interests, without considering the implications for global partnerships, can strain relations.
Application: Uganda must strategically align its national goals with its global relationships. For instance, balancing economic deals with international partners while maintaining regional alliances within the African Union is crucial. Pursuing mutual benefits strengthens Uganda’s position.

Leaders Must Be Prepared for Uncertainty
Lesson: The unexpected fallout from the meeting—where the planned press conference and deal signing were abruptly canceled—highlights the unpredictability of high-level diplomatic engagements. Uganda’s leadership should recognize that diplomacy is not always predictable, and even with preparation, circumstances can change unexpectedly.
Application: Ugandan leaders must be adaptable and prepared for various scenarios, especially when dealing with larger, unpredictable powers. Building flexibility into foreign policy approaches and developing contingency plans can help mitigate the impacts of unforeseen events.

Public Perception and Media Management
Lesson: The public fallout from the meeting was highly visible, with both leaders exchanging sharp remarks in front of the media. Uganda’s leaders should understand the power of the media in shaping public perception and the potential consequences of unguarded moments during high-profile meetings.
Application: Ugandan leaders must carefully manage how their actions and words are conveyed to both domestic and international audiences. They should work on crafting coherent narratives and avoid public disputes that could harm their reputation or the country’s diplomatic standing.

Navigating Complex Conflicts: War vs. Diplomacy
Lesson: The debate between Trump’s desire for de-escalation and Zelenskyy’s insistence on military support reflects a broader dilemma faced by nations in conflict: balancing military intervention with diplomacy. Uganda can learn from this dynamic in its regional engagements or peacekeeping missions.
Application: Involvement in peacekeeping efforts across Africa offers Uganda an opportunity to understand the limits of military solutions and the value of diplomatic approaches in resolving regional conflicts. By fostering peace through negotiations while recognizing when military force is necessary, Uganda can achieve sustainable peace and stable relations.

The Role of Economic Deals in Diplomacy
Lesson: The proposed deal regarding Ukraine’s rare minerals highlighted the growing importance of economic agreements in diplomatic relationships. Trump emphasized the economic aspects as a means to justify U.S. support for Ukraine. Similarly, Uganda has the potential to leverage its rich resources, such as oil and minerals, in international negotiations.
Application: Uganda should focus on using economic agreements as diplomatic tools to foster cooperation with international partners, ensuring that such deals benefit the nation’s economy and people. Leveraging resources for long-term partnerships should be a key focus of Uganda’s foreign policy strategy.

The Importance of National Unity During International Crises
Lesson: Despite tensions with Trump, Zelenskyy maintained a unified stance for Ukraine’s continuing the war with Russia while Trump’s stance for Peace in Ukraine and World Peace was paramount. This was a unified American position/ This demonstrates the significance of national unity during international challenges on the side of the United States of America. Uganda must ensure its leadership remains unified, even during difficult negotiations or conflicts.
Application: Uganda’s political landscape, marked by various political factions, can benefit from presenting a united front in foreign diplomacy. A unified approach would send a stronger, more compelling message in international engagements.