Uganda’s Ministry of Finance Permanent Secretary and Secretary to the Treasury Ramathan Ggoobi used the Absa Africa Financial Markets Index and Economic Outlook Forum in Kampala to outline priorities to deepen Uganda’s financial sector, including rebuilding capital markets, attracting venture capital and exploring the establishment of an SME-focused stock exchange. He also pointed to plans to capitalize Uganda Development Bank to increase the supply of long-term affordable financing. In his remarks, Ggoobi cited global headwinds from tighter financial conditions, geopolitical tensions and shifting trade dynamics, while projecting Uganda’s economic growth at 6.5% to 7% in 2026 and nominal gross domestic product at about USD 68.4 billion by June 2026, with income per capita projected to rise to over USD 1,399. He referenced inflation averaging 3.5% and highlighted the Parish Development Model as a financial inclusion channel, with over USD 1 billion digitally delivered. The forum also highlighted Uganda’s improved standing in the Absa Africa Financial Markets Index, with the event noting a third-place ranking in the 2025 index, and the Governor of the Bank of Uganda calling for pension reforms to help mobilize long-term savings and deepen market participation.
Ministry of Finance (Uganda) 2026-01-28
Uganda’s Ministry of Finance sets out financial market deepening priorities including a possible SME stock exchange
Uganda’s Ministry of Finance Permanent Secretary Ramathan Ggoobi outlined priorities to deepen the financial sector, including rebuilding capital markets and exploring an SME-focused stock exchange. He projected economic growth at 6.5% to 7% in 2026, with nominal GDP at USD 68.4 billion and inflation averaging 3.5%. The forum noted Uganda's third-place ranking in the 2025 Absa Africa Financial Markets Index and highlighted calls for pension reforms to boost long-term savings.